Vault International Bitcoin Fund became the first in New Zealand to focus entirely on the underlying cryptocurrency.
BTC Kiwi Investors Fund
According to a recent local report, Vault Digital Funds has provided New Zealand investors with a new fund called Vault International Bitcoin Fund.
Through it, they will have the opportunity to add an asset class to their portfolio without having to own it directly. Janine Grainger – co-founder of Vault Digital Funds – commented:
“We consider this a great way for people to get this offer without having to do all the complicated and technical parts of it themselves.”
She noted that the initiative would have a somewhat different focus than most conventional investment funds. It will be suitable for people who have an investment plan of more than ten years.
However, Vinny Gardiner, CEO and co-founder of Vault Digital Funds, cautioned people dealing with cryptocurrencies about the risks in this space:
“Bitcoin is not for everyone. This is something people should not take lightly.”
Darcy Ungaro – host of NZ Everyday Investor and certified financial advisor – also gave his year on the go. He noted that despite the assumptions that Bitcoin is a “scam or a fad,” locals have recently shown an increased appetite for cryptocurrency:
“For the past three years, I’ve been having conversations where people say bitcoin is a scam, or a fad, something to avoid. But lately, I’ve been helping more and more people allocate a portion of their wallet to it.”
In fact, the biggest risk is not whether bitcoin is a scam but how people keep and store their crypto holdings. Ungaro raised hopes that the Vault International Bitcoin Fund would give investors the necessary level of security “because it takes care of all custodial issues.”
Bitcoin Funds Are Emerging
In recent months, several large companies have attempted to jump on the bitcoin bandwagon by offering customers BTC money.
Such is the case with JPMorgan Chase & Co., which the banking giant looked into in late April of this year. The Wall Street giant aims to offer its innovative BTC-focused product only to private clients.
In August, the initiative saw the light of day when JPMorgan allowed its wealth management clients to participate in six cryptocurrency funds. One of them was a new bitcoin fund created by digital asset firm NYDIG.
For its part, it was reported that Union Investment – the investment arm of DZ Bank Group – will enable private investors to add bitcoin to existing funds in small amounts, which make up 1-2% of their portfolios. The $500 billion German asset manager will start the move at an unknown date in the fourth quarter.
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