• The fund is an institutional-grade, single-asset passive tracker of Bitcoin.
  • Asian investors who seek Bitcoin exposure but can’t invest in Grayscale’s Trusts can use the Liberty Fund.

CMCC Global is one of Asia’s first venture capital companies that focus on blockchain technology. According to a recent press release, the firm is soon launching the Liberty Bitcoin Fund. This is an institutional-grade, “single-asset passive tracker of Bitcoin (BTC) for accredited investors.” The funds will be custodied by ANXONE Custody, “a best-in-class proprietary digital asset safekeeping solution with insured wallets.”

Kevin Rooke, an industry analyst, noted that this is the first time Asian institutional investors have a regulated, bona fide Bitcoin fund. The project is targeted towards Asian institutions that can’t invest in Grayscale’s Trusts but seek Bitcoin exposure. 

Bloomberg, citing data from TokenAnalyst, confirmed that fewer merchants had been involved in this rally compared to 2017. It was found that the number of unique addresses sending Bitcoin to popular platforms like Binance and BitMEX has reduced. 

Sid Shekhar, the co-founder of TokenAnalyst, said:

[The low number of incoming transactions suggests a] lack of retail interest in general currently in crypto. If we go by the ‘Bitcoin as safe haven in times of recession’ narrative, the number of new users/buyers should actually be increasing.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin keeps hovering around $8,200 as bears push the price down

BTC/USD has had a bearish start to Tuesday as the price dropped from $8,217 to $8,185. This Monday also turned out to be a seller-heavy one as BTC/USD fell from $8,235.70 to $8,217. There is a lack of healthy support levels on the downside.

More Bitcoin News

XRP/USD aims to break past the $0.302 level to continue positive momentum

XRP/USD has gone up from $0.293 to $0.298 so far today. The market has found support on the upward trending line. The bulls will need to break past the resistance provided by the $0.302 level to continue its upward momentum.

More Ripple News

Ethereum price analysis: ETH/USD struggles to break past resistance at the SMA 20 curve

ETH/USD buoyed the price up slightly from $174.60 to $174.85 in the early hours of Tuesday. It looks like the bulls want to retake control of the market after the bears took over on Monday and brought ETH/USD down from $175.71 to $174.60.

More Ethereum News

EOS market overview: EOS/USD gains traction to thrust past $3.0 barrier

The crypto bulls are making a comeback during the Asian trading hours on Tuesday. This follows are a mundane weekend session. The action on Monday was relatively bullish but the majority of cryptos are still locked under key resistance barriers.

More EOS News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Nothing to crow about

Bitcoin (BTC) attempted a recovery above $8,400 and resumed the decline into the end of the week.

Read the weekly forecast

BTC

ETH

XRP