ADDX exchange launched its first cryptocurrency product. ADDX exchange introduced its crypto product with the listing of a digital asset fund by investment manager Trovio Capital Management (TCM).
TCM Digital Asset Fund approaches crypto investment in a different way. Besides key positions in Bitcoin and Ethereum, the fund invests in seven other top-performing cryptocurrencies that are regularly identified and reviewed through a proprietary quantitative analysis method. The Fund has an independent director, auditor and custodian. It is among the first digital asset funds to be overseen by KPMG. Custody and trading services are provided by Nasdaq-listed Coinbase.
Oi Yee Choo, Chief Commercial Officer of ADDX, said: “Cryptocurrencies are most likely the digital gold of our time. There is strong demand among investors for exposure to these digital assets. The traditional financial world initially tried to keep a cautious distance. But today, major financial institutions either have a crypto offering or are seriously considering it. We believe that the time to discuss whether cryptocurrencies have a place in an investment portfolio is almost over. The more relevant question now is how crypto investments should manage their risk in terms of asset retention and price volatility. Professionally managed crypto funds with a good track record could potentially address these risk concerns for investors.”
Ms. Choo added: “ADDX is pleased to work with Trovio on this first crypto offering to investors on our platform. Led by Jon Deane, the team has deep expertise in both traditional finance and crypto, and this is reflected in their meticulous approach to conceptualizing and bringing this institutional-level fund to market. As Singapore establishes itself as a major global hub for regulated crypto activity, ADDX aims to make a positive contribution to the city’s crypto landscape by adding a rich variety of high-quality offerings to investors.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua
