Southeast Asia’s first Bitcoin fund launched to meet local institutional demand

The BCMG Genesis Bitcoin Fund (BGBF-I) will be open to qualified Asian investors.

Malaysia-based BCMG Genesis has officially launched its Bitcoin Fund (BGBF-I), claiming to have become the first insured institutional crypto product in Southeast Asia.

The fund, which was launched in response to growing demand for institutional crypto products in Southeast Asia, taps into a blockchain-based artificial intelligence (AI) platform provided by Calfin Global cryptocurrency exchange, which is designed to provide greater security for clients’ holdings, according to a statement.

BGBF-I is regulated in Labuan, Malaysia, with IBH Investment Bank acting as the lead advisor to the fund. Alpha Calibration, a professional financial services provider headquartered in Hong Kong, will provide regulatory compliance services, and HLB Hodgson will conduct the audit.

The investment vehicle also provides insurance coverage and underwriting for public securities offerings. Fund manager Subbu Vempati explains:

“BGBF-I is a secure, insured and regulated platform where investors can gain exposure to the digital asset industry. Investors can benefit from our expertise in the financial, technical and security aspects of Bitcoin investing and have the peace of mind to participate in this asset class without any of the challenges or risks that come with dealing directly with digital assets.”

The BGBF-I fund’s official website shows that the fund expects a minimum return of 12% per year, while noting that Bitcoin itself has risen 266.5% in the past 12 months.

All qualified Asian investors must pass mandatory Anti-Money Laundering (AML) and Know Your Customer (KYC) checks before investing in this fund.

The Bitcoin fund is one of many that have recently launched to meet growing institutional demand for Bitcoin and other digital assets. In mid-February, the first physically settled North American Bitcoin ETF was approved in Canada. Grayscale’s Bitcoin Trust also continues to grow, with assets under management recently reaching $39.8 billion.