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With the fund valued at AU$2.75m, the company will begin its investor road show on 25 November across major cites centres in Australia.
DigitalX (ASX:DCC), a blockchain company announced that it is opening a DigitalX Bitcoin Fund. With a management fee of 1.65 percent, the fund will provide investors with exposure to the digital asset class. As part of the fund, DigitalX will be providing a wallet security system in partnership with bitcoin custodian, BitGo.
As quoted in the press release:
“DigitalX has held its bitcoin position through the 2017 bull market and 2018 drawdown because of our fundamental long-term belief in the value of the asset. What has become more and more apparent to us as we speak to investors and market participants generally, is that there is a growing interest in accessing bitcoin from people who have traditionally not considered investment in digital assets,” explained Executive Director, Leigh Travers.
The fund will offer a management fee of 1.65% per annum and no performance fees.