Recent announcements reveal the official launch of the BCMG Genesis Bitcoin Fund-I as a result of the growing global and local interest in digital assets. Since the fund is regulated in Labuan, Malaysia, it becomes the first fund of this type in the Southeast Asian region.
BGBF-I provides insurance coverage and underwriting for Public Offering Security Insurance while ensuring an additional level of security to its clients’ investments. To deliver increased security, the fund leverages an AI-powered blockchain-based platform, which is provided by Calfin Global Crypto Exchange, the world’s first fully insured crypto exchange.
Regarding the fund and its services, Fund Manager Subbu Vempati has stated the following:
“BGBF-I is a secure, insured and regulated platform where investors can get exposure to the Digital Assets industry. Investors get to benefit from our expertise in the financial, technical and security aspects of Bitcoin investments, as well as enter this class with a peace of mind without any challenges or risk in directly handling the Digital Asset.”
The fund is administered by Alpha Calibration, a provider of regulatory compliance and professional services, and is audited by HLB Hodgson, a Hong Kong-based auditing firm. IBH Investment Bank serves as the main advisor to the newly-launched BTC fund.
In order to access the fund, all Asian investors must go through mandatory Know Your Customer (KYC) and Anti-Money Laundering (AML) screenings.
While this is the first insured Bitcoin fund in the Southeast Asian region, the increasing institutional interest in digital assets has led to the launch of several such funds globally. Last month, Canada witnessed the approval of the first physically settled North American ETFs, and recent reports reveal that Canadian regulators have approved a third Bitcoin ETF.