Tobam launches the common fund of european investment to Bitcoin

Tobam, an asset manager based in Paris, launched the first mutual fund of Bitcoin in Europe. The fund has been approved by the Autorité des Marchés financiers (AMF) and is classified as an investment fund alternative. It should be noted that, even if the AMF seems to be open to digital currencies, the financial regulator in europe has shown himself to be prudent in the case of ICO.


Tobam believes in the potential of crypto-currencies

Choueifaty, founder of the company, said : “more and more of crypto-currencies have been created in recent years. But despite the growing interest in the digital currency, the current solutions to access the Bitcoins are many difficulties to investors. “And the investment funds of Bitcoin proposed by Tobam aims to target qualified investors and institutional investors wishing to gain exposure to crypto-currencies. The company says that even if the Bitcoin is exposed to significant risks, including a level of volatility to be very high, it brings a number of benefits. Tobam argues that it ” believes that the Bitcoin and crypto-currencies, in general, have the potential to become sustainable standards on the financial markets and savings. “


The importance of the approval of the AMF

The founder of Tobam says that the AMF has been convinced that the ” framework of the fund Bitcoin protects investors. “Mr. Choueifaty said that the development of legitimate means to” manage the money and invest in crypto-currencies is quite complex. “The mutual fund is registered as alternative investment funds, which means that it is not a fund covered by the european directive on undertakings for collective investment in transferable securities. In this respect, the fund Tobam is not traded through an exchange and will only be available to “qualified investors”. “The fund is available to” eligible investors across the world in the context of a private placement “, because of its legal status to alternative investment funds.

Source : News.Bitcoin