The worldwide funding platform of economic companies agency Cantor Fitzgerald is launching a brand new product that may enable buyers to profit from the worth motion of Bitcoin (BTC) whereas offering a hedge in opposition to dangers.
Cantor Fitzgerald Asset Administration (CFAM) says that the Fitzgerald Gold Protected Bitcoin Fund will give buyers direct publicity to the flagship cryptocurrency in addition to one-to-one draw back safety based mostly on the worth of gold.
The agency, which holds roughly $14.8 billion in belongings below administration (AUM), says the fund can be its first Bitcoin-focused funding automobile.
Says Cantor Fitzgerald chairman Brandon G. Lutnick,
“At Cantor, we’re centered on delivering progressive merchandise that help purchasers looking for publicity to digital asset investments. We imagine this can be a really groundbreaking funding automobile—one which helps buyers to faucet into Bitcoin’s potential development with draw back safety based mostly on the worth of gold.”
CFAM says the fund is structured with a five-year length and can start accepting capital from buyers within the coming weeks.
On Tuesday, Cantor Fitzgerald additionally introduced that its Bitcoin Financing Enterprise has efficiently executed its first transactions. The brand new enterprise enterprise, which expects to make $2 billion in financing out there in its preliminary section, supplies leverage to institutional buyers of the benchmark crypto asset.
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