Napoleon Bitcoin Fund launched by Napoleon AM

Paris Asset Management Company, Napoleon AM, has announced the launch of a regulated Bitcoin Fund (BTC), the Napoleon Bitcoin Fund.

The fund was created on November 8 and is dedicated to institutional and professional investors. The company claims that its product is one of the first regulated vehicles to expose Bitcoin’s price movements on the French market.

The product – with daily liquidity – aims to offer portfolio diversification and is based on the evolution of the futures contracts listed on the CME exchange.

The Napoleon Bitcoin Fund is physically liquidated to avoid the difficulty of storing Bitcoin cryptocurrencies. The custody services are provided by Financière d ‘Uzès, while the auditor is PwC.

The asset manager decided to develop the product after realizing the potential of blockchain technology:

“Convinced of the major revolutionary potential that blockchain technology has for the entire financial industry, Napoleon AM quickly became interested in the financial potential of digital assets and public blockchains.”

The Napoleon Bitcoin Fund has plans for development in 2020

The company considers Bitcoin to be a unique investment, given its high volatility, positive return and low correlation with traditional assets. These features, the company notes, make Bitcoin suitable for portfolio diversification to optimize risk / return ratios.

The Napoleon Bitcoin Fund is a new player on the fund scene targeting institutional investors interested in Bitcoin. The company plans to launch other cryptocurrency-related investment products next year.

“We intend to launch the following fund based on a long-term strategy on bitcoin, in the first quarter of 2020”,

said Sergio Gonzalez, director of communication and marketing at Napoleon.

Currently, CME is offering cash settlement bitcoin futures contracts in the US. Bakkt also offers such futures contracts, but they are traded on the ICE Singapore stock exchange.