Crypto-exposed professional investment French funds.
New crypto-exposed professional investment funds are arising and they will be based on strategies in the future. If you are a professional investor or an assimilated investor, it could be an interesting topic.
French asset management company Napoleon has launched a new fund linked to the Chicago-based Mercantile Exchange (CME) bitcoin futures calculated in traditional currency.
Napoleon Bitcoin Fund is aimed at large institutional investors, and the minimum contribution in it is 100,000 euros. The tool is promoted by the company as an “ideal” means of diversification and optimization of the risk-return ratio in portfolios.
“The fund is designed to reproduce bitcoin movements through futures of the Chicago Mercantile Exchange, which avoids the need to store and evaluate bitcoin,” the company said.The fund is regulated by the French Financial Markets Authority (AMF). Napoleon President Stefan Ifra said the launch of the fund was “the culmination of negotiations with the regulator and partners regarding the creation of a real alternative for professional investors.”
The French investment firm Financière d’Uzès will act as custodian of the assets of the fund, and PwC’s Big Four consulting company as its auditor.
Currently, only investors in the French market can access the fund, but Napoleon plans to introduce it in other countries in the near future. Next year, she expects to bring additional cryptocurrency derivatives to the market. So, in the first quarter it is planned to launch a bitcoin fund, which will allow you to take only long positions in cryptocurrency.
Earlier on November 5, the Chicago Mercantile Exchange experienced a sharp drop in BTC / USD futures. As noted, quotes closed the gap formed at the end of October (when the next session opens significantly higher or lower than the previous close, — ed.).
Meanwhile, the Central Bank of France proposes to create a blockchain-based settlement system in the Eurozone, in which the euro will mix faster and at lower cost.
Recall that the CME Group is going to add the opportunity to trade bitcoin options on January 13, 2020.
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