The Alternative Investment Fund is domiciled in France and available only to professional investors.
TOBAM believes that cryptocurrencies have the potential to become “durable standards in financial and saving markets”, despite exhibiting extreme levels of volatility.
The asset manager said its new fund is the safest bitcoin investment vehicle to date, boasting a “transparent and rigorous investment process (…) mitigating the risk of loss and theft”.
It also lauded the “diversification benefits” of bitcoin, as the cryptocurrency does not correlate with equity or bond markets.
“This first move in the world of cryptocurrencies showcases our dedication to remaining ahead of the curve and to provide our clients with innovative products,” said Yves Choueifaty, president of the $8.8bn (£6.6bn) fund. “Bitcoin being a highly diversifying asset, this launch is also an expression of our commitment to diversification in all its forms.”
