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Vault International Bitcoin Fund became the first in New Zealand to be entirely focused on the primary cryptocurrency.
A BTC Fund for The Kiwi Investors
According to a recent local report, Vault Digital Funds provided New Zealand investors with a new fund called Vault International Bitcoin Fund.
Through it, they would have the opportunity to add the asset class to their portfolio without having to own it directly. Janine Grainger – Co-Founder of Vault Digital Funds – commented:
“We see this as a great way for people to get that exposure without having to do all the more complicated and technical parts of it themselves.”
She noted that the initiative would have a somewhat different focus than most traditional investment funds. It would be appropriate for people with an investment plan of more than ten years.
Nonetheless, Vinnie Gardiner – Chief Executive and Co-Founder of Vault Digital Funds – warned people dealing with cryptocurrencies about the risks in the field:
“Bitcoin isn’t appropriate for everyone. This is something that people should not be taking lightly.”
Darcy Ungaro – host of the NZ Everyday Investor and authorized financial advisor – also gave his two cents on the move. He noted that despite the assumptions that bitcoin is a “scam or a fad,” locals have been showing a growing appetite for cryptocurrencies recently:
“Over the past three years, I have been having conversations where people say bitcoin is a scam, or a fad, something to be avoided. But recently I have been helping more and more people allocate a portion of their portfolio towards it.”
In fact, the most considerable risk is not whether bitcoin is a scam but how people hold and store their crypto holdings. Ungaro raised hopes that the Vault International Bitcoin Fund would grant investors with the necessary level of security “because it takes care of all the custody issues.”
Bitcoin Funds Are Popping up
In recent months, numerous large corporations have attempted to jump on the bitcoin bandwagon by offering BTC funds to clients.
Such is the case with JPMorgan Chase & Co. The banking giant considered the matter in late April this year. The Wall Street behemoth intended to offer its innovative BTC-focused product to private clients only.
In August, the initiative saw the light of day when JPMorgan allowed its wealth management clients to get involved with half a dozen cryptocurrency funds. One of them was a new bitcoin fund created by the digital asset company NYDIG.
In its turn, Union Investment – the Investment Arm of the DZ Bank Group – would reportedly enable private investors to add bitcoin to existing funds in small amounts, comprising 1-2% of their portfolios. The $500 billion German asset manager would launch the move at an unknown date in Q4.
