Vault International Bitcoin Fund was the first cryptocurrency fund in New Zealand to focus only on the digital currency.
According to a recent local article, Vault Digital Funds has launched the Vault International Bitcoin Fund for New Zealand investors.
They would be able to add the asset class to their portfolio without needing to own it directly via it. Vault Digital Funds Co-Founder Janine Grainger 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 explained that the effort would be distinct from most typical investment funds in that it would have a different emphasis. It would be suitable for investors with a ten-year investment horizon.
Nonetheless, Vinnie Gardiner, CEO and Co-Founder of Vault Digital Funds, cautioned anyone working with cryptocurrencies of the risks:
“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 a licensed financial counsellor, also weighed in on the move. He observed that, despite widespread belief that bitcoin is a “scam or fad,” residents have recently demonstrated an increasing appetite for cryptocurrencies:
“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 significant danger is not whether bitcoin is a hoax, but rather how consumers handle and store their cryptocurrency holdings. Ungaro expressed optimism that the Vault International Bitcoin Fund would provide investors with the appropriate level of protection “because it handles all custody issues.”
Several prominent organizations have attempted to hop on the bitcoin bandwagon in recent months by offering BTC funds to clients.
JPMorgan Chase & Co. is one example of this. In late April of this year, the financial behemoth deliberated on the issue. The Wall Street titan wanted to sell its new BTC-focused product exclusively to private clients.
The idea saw the light of day in August, when JPMorgan permitted its wealth management clients to invest in a half-dozen cryptocurrency funds. One of them was a new bitcoin fund launched by digital asset firm NYDIG.
Union Investment, the investment arm of the DZ Bank Group, will purportedly allow private investors to add bitcoin to existing funds in tiny sums, accounting for 1-2 percent of their portfolios. The $500 billion German asset management would make the move at an undetermined point in Q4 of this year.
