Singapore approves Bitcoin fund that trades physical BTC
- Date: 28-Nov-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Singapore approves Bitcoin fund that trades physical BTC
Regulated by the Monetary Authority of Singapore (MAS), Fintonia has launched the Fintonia Bitcoin Physical Fund and the Fintonia Secured Yield Fund.
The physical fund aims to provide investors with “quick, safe, and cost-efficient” access to Bitcoin while removing the challenge of buying from one of the thousands of exchanges and keeping the Bitcoin secure.
Fintonia chairman Adrian Chng explained the fund acquires ‘physical’ Bitcoin, “meaning we will buy the actual Bitcoin rather than a derivative instrument on Bitcoin”.