CoinJar Launches First Australian Crypto-Index Fund
CoinJar, a bitcoin exchange platform in Australia, has just launched the country’s first-ever cryptocurrency index fund for investors. Revealed on the 2nd of August, CoinJar offers easy and convenient solutions to elite investors within the country as a means of further introduction to the world of crypto through bypassing custody by another company or party.
Digital Currency Fund
The CoinJar DCF is split into two sections. The first class is Bitcoin, focused solely on further development with investors in Bitcoin only. The second will consist of a variety class, monitoring four of the top leading cryptocurrencies in the world, including BTC, ETH, Ripple, and LTC. Jordan Michaelides, leading figure at CoinJar, said that investing in digital currencies provides specific threats and risks associated with the very nature of the tech and can prove to be a tedious process.
As per usual, any investor involved in crypto as seen their fair share of possible risks and losses due to cybercrime and its constant rise. He states that CDCF will handle all custodial requirements and ease the investing procedures and offer incredible safety and protect for investors. As of now, the currency fund is only available and focusing on wholesale investors, essentially elite investors with documented proof of an average of $2.5M AUD in total assets or an income for $250K AUD for each year in the previous two, prior to any investment made by the party into digital currency funds or several different ICOs.
New investors will require a minimum of $50K as offering to the fund and existing investors can make minor payments or investments of around $10K. Bitcoin Class investors will pay an annual fee of 1.3 percent and the varied class will pay around 1.8 percent as per the multiple coin plan.
Despite being the first actual digital currency fund in Australia for local investors, the CDCF is hopping on board to join several investor products representing digital assets to more advanced investors. Grayscale in New York was the spearhead in crypto-trust, released the BTC Investment Trust five years ago and several other investment funds since its launch.
Available on a secondary market, GBTC, as well as ETC, can now be acquired by retail investors. Additionally, a crypto-derivatives market has also been designed and deployed, containing several crypto-assets and products such as futures contracts, solutions, and exchange-listed on both the CME and CBOE stock exchanges platforms, including other emerging exchanges like LedgerX. Earlier, two investors oversaw the success of the first exchange for physical, aka EFP, in regards to BTC after switching positions within a BTC futures contract to match the hard asset itself.