Jersey Announces First Regulated Bitcoin Fund Listing
The Channel Islands Securities Exchange has announced that it has listed its first regulated bitcoin fund listing, the Jersey’s Global Advisors Investment Fund plc. As the largest of the Channel Islands located between England and France, Jersey, a U.K. dependency, now has the opportunity to push the island’s FinTech sector forward. Jersey Island is pushing efforts to become a Fintech hub. According to Daniel Masters, principal of Global Advisors, the time was ‘right’ for the listing, which is helped by the fact that the digital currency Bitcoin now has a market cap of just under $13....
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In July, a hedge fund in Jersey issued a press release announcing that it had become the first regulated fund to deal in bitcoin. The Jersey fund, called Global Advisors Bitcoin Investment Fund (GABI), later said it was seeking $200m in assets under management. In subsequent months, mentions of GABI have been regularly prefaced by its status as the first regulated bitcoin hedge fund by everyone from the BBC to Newsweek. Now another hedge fund is challenging GABI's claim. Crypto Currency Fund, managed by Timothy Enneking, says that it, not GABI, should rightfully be referred to as the....
The island of Jersey has approved the launch of a bitcoin investment fund, which the government claims will be the first such fund to be regulated. Called the Global Advisors Bitcoin Investment Fund (GABI), the fund received regulatory approval from the Jersey Financial Services Commission (JFSC) earlier this week. The fund, set up by Global Advisors Jersey Limited (GAJL), is set to launch on the 1st August. The Island of Jersey is the largest of the Channel Islands and is a self-governing British Crown dependency. Due to its liberal tax policies the island developed into a tax haven....
The BBC is reporting that Global Advisors Bitcoin Investment Fund (GABI) has received certification by the Jersey Financial Services Commission authorizing the commencement of operations beginning on the 1st of August. According to Daniel Masters of Global Advisors, the move will allow major investors (which include insurance companies) to invest in the emerging digital currency for the first time. The Investment fund would not allow the common investor to participate, however. "This is institutional strength and it's an absolute world first," Masters was quoted as saying. "This is....
Mega bank HSBC has reportedly decided to cut ties with a hedge fund that's planning to bring the first regulated bitcoin investment fund over concerns of money laundering, BBC reported Monday. Mr. Daniel Masters of Global Advisors (the hedge fund in question) has said that this situation threatens plans to make the Island of Jersey (where the fund is based) a place where cryptocurrency businesses can flourish, adding that HSBC's decision in the matter is a "step in the wrong direction for Jersey." The fund is called the Global Advisors Bitcoin Investment Fund, or GABI. Meanwhile, HSBC told....
The Global Advisors Bitcoin Investment Fund (GABI) has completed its first initial offer period and made its first purchase of bitcoin, according to the company. While the amount of cyptocurrency purchased has not been announced, it is clear that the fund delayed the move to make the most of the current decrease in the bitcoin price. GABI is incorporated in the island of Jersey and is possibly the world's first regulated bitcoin investment fund. Transparency and compliance. GABI made the decision to execute its first bitcoin purchase via digitalBTC, Australia's first publicly listed....