Private market exchange ADDX has launched its first cryptocurrency product, with the listing of a digital asset fund by investment manager Trovio Capital Management (TCM).
The fund aims to provide accredited investors with a reliable option for crypto investing and has put in place institutional-grade safeguards in relation to the trade execution and custody of the fund’s underlying digital assets.
The TCM Digital Asset Fund takes a diversified approach to crypto investing. On top of core positions in Bitcoin and Ethereum, the fund invests in a set of seven other top-performing cryptocurrencies that are identified and reviewed regularly through a proprietary method of quantitative analysis.
The fund recorded a net return of 215% in 2020 and 205% in the first ten months of 2021.
Relying on an institutional-quality infrastructure, the fund has an independent administrator, auditor and custodian. It is among the first digital asset funds to be audited by KPMG. Custody and trading services are provided by the Nasdaq-listed Coinbase.
Investors on the ADDX platform can subscribe to or redeem units each month with the fund manager. The fund’s minimum investment size is US$10,000.
Founded in 2017, the Australia-based Trovio Group is led by veteran bankers Jon Deane and Bob Tucker. Trovio CEO Jon Deane has more than 15 years of experience managing large complex risk positions for investment banks, including JP Morgan and UBS AG.
He was Managing Director and Head of Asia Commodities Trading at JP Morgan from 2014 to 2018.