Point95 Global, a digital asset management firms based in Shanghai has revealed that it will soon launch a cryptocurrency trading fund. At the time of writing, the firm is yet to reveal the name of the asset manager who will be running the trading fund.
Cryptocurrency Trading Fund by Point95 Global
Point95 Global has cut a niche for itself in the competitive digital marketing sphere by providing quality digital asset management services to a multitude of clients from China and abroad. As noted by Bitcoinist, the firm is planning to launch a new cryptocurrency trading fund that will enable it expand its clientele base.
Reports indicate that Point95 will enter into a partnership with a renowned asset manager who will ensure that the firm achieves the set goals and objectives. The fund main target is professional investors who are interested in investing in cryptocurrency and projects related to blockchain technology.
It will also apply arbitrage-trading strategies to establish itself as an authority in the competitive cryptocurrency market. Application of these strategies will help the firm to take full advantage of buying and selling habits of investors. It will also venture into other markets that are tech driven to boost its operations and profit margins.
Notably, Point95 Global already allows its clients to trade in 10 of the major digital currencies using its seed money that is estimated to be more than $3 million. Most experts who are conversant with this deal predict that the asset management firm will be a sub-adviser of the new fund. The unmanned asset manager who is rumoured to be from Hong Kong will be the main fund manager and distributor. The starting capital for this new cryptocurrency fund is $30 million.
Overview of Hong Kong Cryptocurrency Market
Hong Kong financial regulator has been limiting cryptocurrencies trading for the last couple of months, but its intervention has not stopped the industry from thriving. Securities and Futures Commission (SFC) recently announced that all cryptocurrency funds operating in the country should apply for special licenses. Point95 Global is aware of the new regulations put in place by SFC and will abide by them fully.
The number of new cryptocurrency funds has been increasing steadily over the last one year despite the extended bear market. Circuit Capital is of the idea that the drop in prices has shifted most investors and traders attention to actual adoption of cryptocurrencies.
According to Circuit Partner, the adoption rate of cryptocurrencies has been increase and people are looking for new ways of increasing crypto businesses despite the price fluctuations. Institutional infrastructure is also been developed and new professionals who have vast experience in blockchain technology are moving into this space.
Experts are also of the idea that 2019 will be a successful year for the blockchain and cryptocurrency market since most of the fundamental regulations and issues that have affected the industry in one way or another this year will be fully resolved and new policies cemented by financial regulators. Want to learn more about cryptocurrency exchanges, click here.