Family office makes crypto play
The Victor Smorgon Group (VSG) has taken an equity stake in crypto asset investment platform Zerocap.
Zerocap has plans to be a significant full service advisory and investment firm in the crypto sector and has launched its first wholesale fund, The Zerocap Bitcoin Trust, seeded with a material cornerstone investment from VSG.
The fund provides pure bitcoin exposure through a regulated unit trust and is covered by insurance underwritten by Lloyds of London.
It has been designed to track the price of Bitcoin without having to purchase, hold and secure the underlying Bitcoin.
“We searched globally for a solution that could mirror our internal compliance processes for investing and found Zerocap to be amongst the leaders in their field, and fortuitously, local,” VSG managing director Peter Edwards said.
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Source: Family office makes crypto play | Financial Standard