New Zealand Has Launched Its First Bitcoin-Only Investment Fund

The Vault International Bitcoin Fund has become the first in New Zealand to focus entirely on mainstream cryptocurrency. According to a recent local report, Vault Digital Funds has provided New Zealand investors with a new fund called Vault International Bitcoin Fund.

Thanks to this, they will have the opportunity to add an asset class to their portfolio without having to own it directly. Janine Granger, co-founder of Vault Digital Funds. In recent months, many large corporations have tried to support bitcoin by offering bitcoin funds to customers. This is the case with JPMorgan Chase. The banking giant considered this issue at the end of April this year.

The behemoth from Wall Street intended to offer its innovative product focused on BTC only to private clients. In August, this initiative came to light when JPMorgan allowed its asset management clients to use half a dozen cryptocurrency funds.

One of them was a new bitcoin fund created by the digital asset company NYDIG. In turn, Union Investment, the investment arm of DZ Bank Group, will reportedly allow private investors to add bitcoins to existing funds in small amounts, accounting for 1-2% of their portfolios. The German asset manager worth $500 billion will start moving at an unknown date in the fourth quarter.