Topic: [2017-11-30] Hedge Fund Platforms Reject Bitcoin Funds, Fear It’s a Fad (Read 1082 times)

they can reject, there were more other funds that will accept, not everyone can agree on something


When you talk about reputation, what do you mean? there are many billionaires and millionaires who consume drugs, who do illicit business, but are these same people who are talking about reputations? What Bitcoin Is So Wrong?



these are still problems that will be solved in the future.

Bitcoin is continuing its upward trajectory, hitting a record high above $11,000 this week. Yet, despite its rising value, hedge fund platforms are rejecting cryptocurrency funds as clients.

Brooklands Fund Management, Mirabella Advisers and Privium Fund Management, which deliver regulatory help for investment firms, have all had discussions with bitcoin funds, reports Bloomberg. However, all three have not taken on any as new clients.

Clayton Heijman, chief executive officer for Privium in the U.K., the Netherlands and Hong Kong, said:

The biggest risk we face is: is this hype? Is it a fad? Or is it here to stay? Is it the Tamagotchi from 20 years ago?

While Oz Eleonora, founder of crypto-asset investment firm Zinica Group and a board member of the Blockchain Institute of Technology in the U.S., claims that there are ‘huge risks’ involved for the platforms, adding:

They’re scared. They want to participate, but there’s a lot of reputation at risk. If you introduce a bitcoin fund without addressing the compliance properly, you’ll anger both the regulator and your client base.

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I don't think that we can consider bitcoin as a fad, it is not something that after you bought you can't trade anymore. Tamagotchi can't be used to buy anything 20 years ago. If you buy bitcoin today you can use it to purchase something. It is a currency.