Rajarshi Mitra
Independent Analyst
- 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.”
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