Physical Bitcoin Fund Approved in Singapore

Physical Bitcoin Fund Approved in Singapore

  • Singaporean Fintonia Group has launched two bitcoin funds for skilled buyers.
  • The Fintonia Bitcoin Bodily Fund purchases precise bitcoin to supply buyers with direct worth publicity.
  • The Fintonia Secured Yield Fund permits bitcoin holders to acquire money by placing their BTC as collateral.

Singapore-based fund supervisor Fintonia Group, regulated by the Financial Authority of Singapore (MAS), has launched a “bodily” bitcoin fund and a yield fund, reported Fund Selector Asia. The choices are geared in direction of skilled and institutional buyers looking for direct, passive bitcoin publicity and an avenue for acquiring loans on their BTC holdings.

“The fund acquires ‘bodily’ bitcoin, which means we are going to purchase the precise bitcoin [rather than] a by-product instrument on bitcoin,” stated Adrian Chng, founder and chairman of Fintonia Group, per the report.

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