DigitalX advances crypto market intentions with crypto-asset investment fund and news sources

DigitalX (ASX: DCC) is back trading on the ASX after coming out of a self-imposed trading halt.

The reason for short-lived market hibernation was the launch of its newly-founded investment division and “crypto-asset” investment fund, DigitalX Investments, to be led an managed by former Goldman Sachs Associate Director Tim Davies.

As an emergent fintech provider DigitalX has made headlines in recent months after netting several high-profile corporate advisory clients linked to the emergent growth of cryptocurrencies and their associated initial coin offerings (ICOs).

Its activities and market achievements have seen the company’s value swell to almost A$100 million by market capitalisation, framed within the larger interest in distributed ledger technology (DLT) and blockchain-powered services.

As its maiden crypto-fund (and one of the first of suchlike funds anywhere in the world), DirectX says it will invest predominantly in “leading cryptocurrencies, with a smaller allocation towards special trading opportunities including ICOs”.

The wider purpose of the fund is to provide investors with access to a portfolio of cryptocurrencies although DirectX admits it intends to include cash holdings, derivatives of cryptocurrencies and managed investment schemes in the fund.

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