Block Asset Management opens fund to investors
European-based firm Block Asset Management is claiming a world first this week with the launch of its blockchain/cryptocurrency fund of funds.
Domiciled in Luxembourg, the fund is now open to investors and will invest in a carefully selected portfolio of blockchain/cryptocurrency investment funds. These funds have a combined AUM of U$500 million.
Block director Kevin Ballard says that the firm’s research shows interest in the crypto space is high but while investors can see the potential for high returns, they lack knowledge of the market.
“Investors have also been hesitant due to difficulties in selecting a single strategy or manager. This is compounded by a lack of funds that offer diversification or any material performance history,” Ballard adds.
The firm believes that by offering a more diverse investment opportunity it will address the concerns expressed by investors. It also forecasts growth for the blockchain and cryptocurrencies sector as demand and values increase.
Block’s team has a combined 100 years of experience in the fund and asset management industry including crypto expert Timothy Enneking who has been managing crypto assets since 2013.
The firm’s CEO De Luque Muntaner says that his firm has done extensive research on the funds that it will invest in.
“We knew that many funds existed in the crypto space, but most would clearly not pass any comprehensive, serious due diligence,” he adds.
Domiciled in Luxembourg, the fund is now open to investors and will invest in a carefully selected portfolio of blockchain/cryptocurrency investment funds. These funds have a combined AUM of U$500 million.
Block director Kevin Ballard says that the firm’s research shows interest in the crypto space is high but while investors can see the potential for high returns, they lack knowledge of the market.
“Investors have also been hesitant due to difficulties in selecting a single strategy or manager. This is compounded by a lack of funds that offer diversification or any material performance history,” Ballard adds.
The firm believes that by offering a more diverse investment opportunity it will address the concerns expressed by investors. It also forecasts growth for the blockchain and cryptocurrencies sector as demand and values increase.
Block’s team has a combined 100 years of experience in the fund and asset management industry including crypto expert Timothy Enneking who has been managing crypto assets since 2013.
The firm’s CEO De Luque Muntaner says that his firm has done extensive research on the funds that it will invest in.
“We knew that many funds existed in the crypto space, but most would clearly not pass any comprehensive, serious due diligence,” he adds.
