{"id":95893,"date":"2024-10-08T14:47:19","date_gmt":"2024-10-08T18:47:19","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=95893"},"modified":"2024-10-08T14:49:00","modified_gmt":"2024-10-08T18:49:00","slug":"national-bank-of-bahrain-launches-first-bitcoin-fund","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/national-bank-of-bahrain-launches-first-bitcoin-fund\/","title":{"rendered":"National Bank of Bahrain Launches First Bitcoin Fund\u00a0"},"content":{"rendered":"\n

The National Bank of Bahrain has introduced an investment fund<\/a> that would expose qualified investors to Bitcoin.\u00a0
<\/p>\n\n\n\n

\"National
National Bank of Bahrain Launches First Bitcoin Fund\u00a0<\/figcaption><\/figure>\n\n\n\n

The first Bitcoin-linked Structured investment in the Gulf Cooperation Council (GCC) has been introduced by the National Bank of Bahrain (NBB) in collaboration with APR Digital. <\/p>\n\n\n\n

Accredited investors will get access to the flagship cryptocurrency through this fund. In the meantime, Bahrain is now among the nations with the greatest holdings of Bitcoin. <\/p>\n\n\n\n

Thus, this is a major boost to the currency's adoption in the nation. The GCC, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates<\/a>, has seen the formation of the first Bitcoin investment fund by the NBB. <\/p>\n\n\n\n

According to the IBS intelligence assessment, the investment fund is intended to expose authorized investors to Bitcoin (BTC) as a hedge against the depreciation of fiat currencies. <\/p>\n\n\n\n

Hisham AlKurdi, Group Chief Executive, Markets & Client Solutions, National Bank of Bahrain, commented on this development, saying:<\/p>\n\n\n\n

\n

We are proud to introduce this bespoke structured investment, which blends the appeal of digital asset exposure with the security of capital protection. This product underscores our focus on offering our wealth management clients innovative and secure avenues to diversify their portfolios in an evolving investment landscape. It is a testament to NBB's continued leadership in financial innovation within the region”.<\/p>\n<\/blockquote>\n\n\n\n

The National Bank of Bahrain intends to expand its products to its wealth clients, particularly investment options with significant development potential, and the creation of this Bitcoin investment fund\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> is in line with that goal. The Bank is aware of Bitcoin's potential to increase in value and overtake all other currencies worldwide.\u00a0<\/p>\n\n\n\n

A Boost For Bitcoin Adoption In The Country<\/h2>\n\n\n\n

Unquestionably, the National Bank of Bahrain's decision to establish a Bitcoin investment fund is a significant step toward the nation's adoption of Bitcoin. <\/p>\n\n\n\n

According to data from Bitcoin Treasuries<\/a>, Bahrain is now the fifth government with the largest ownership of Bitcoin. At the moment, the nation has 13,166 BTC ($844 million). <\/p>\n\n\n\n

In contrast to nations such as the United States, which primarily acquired their Bitcoin holdings through seizures, Bahrain has been aggressively accumulating the leading cryptocurrency. <\/p>\n\n\n\n

A clear legal framework has also been put in place by the Central Bank of Bahrain (CBB) to encourage the use of digital assets like Bitcoin in the nation. <\/p>\n\n\n\n

Along with the top cryptocurrency exchanges in Bahrain, Crypto.com now offers crypto services<\/a> to Bahraini users after the CBB recently awarded the exchange a payment service license in the nation.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The National Bank of Bahrain has introduced an investment fund that would expose qualified investors to Bitcoin.\u00a0 The first Bitcoin-linked Structured investment in the Gulf Cooperation Council (GCC) has been introduced by the National Bank of Bahrain (NBB) in collaboration with APR Digital. Accredited investors will get access to the flagship cryptocurrency through this fund. […]<\/p>\n","protected":false},"author":43,"featured_media":95894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[758,22250,22251],"class_list":["post-95893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-fund","tag-gcc","tag-national-bank-of-bahrain"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/10\/croc_1728404719878.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/95893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=95893"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/95893\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/95894"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=95893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=95893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=95893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}