Retail-focused crypto funds launch in Australia

29 May 2018

The past two months in Australia have seen the launch of New Dawn, “the world’s first retail crypto fund,” in addition to the country’s “first retail crypto hedge fund” from Every Capital.

The former fund said the hurdles that need to be overcome to make an initial investment in cryptocurrencies can be off-putting and claimed that it removes this barrier by “providing canny investors with a straightforward way to invest in cryptocurrencies as well as diversified crypto assets”.

New Dawn said it was preparing to deploy capital into “exciting opportunities which will be of significant benefit to investors,” including an institutional-grade security token exchange, a crypto mining company, and an algorithmic trading desk.

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The fund said it would leverage Alibaba Cloud and the Haasonline crypto trading platform to develop the algorithmic trading desk, which would be operated by “the most talented quants and traders in the crypto-sphere”.

Every Capital, which described its offering as “safe and simple,” aimed to roll out its fund to select customers in the third quarter of 2018.

Every, which was set up as a managed investment scheme, said it has partnered with crypto fund manager Astronaut Capital and alternatives manager Global Merces to invest in “a diverse portfolio of crypto assets and participate in select initial coin offerings (ICOs)”.

“Crypto presents opportunities for every Australian, and Every will make those opportunities more accessible,” said Every director and co-founder, Tom Surman.

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