Credit: Eivind Pedersen – Pixabay
Raiz received the green light from the Australian stock market gendarme to launch its funds dedicated to investing in Bitcoin for individuals. The financial services company plans to launch by summer 2020.
According toAFR, theAustralian Securities and Investment Commission (ASIC) approved the Bitcoin funds offered by Australian fintech Raiz.
Owner of the popular mobile investment app of the same name, Raiz offers individuals the possibility of investing easily in ETFs.
The company already has 445 million Australian dollars (275 million euros) in funds managed by 211,000 customers and a base of 300,000 users.
Through his new product, Raiz will invest 95% of its clients' funds in ETFs and the remaining 5% directly in Bitcoin, saysAFR.
according to TheBlock, the bitcoins held through the fund will be secured by Gemini Custody. Assets held by the US custodian can now be insured up to $ 200 million.
Last week, the Londoner Nickel Digital Asset Management launched a Bitcoin fund called Digital Gold Institutional and dedicated to institutional investors.
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