Constancy president and head of technique and planning, Peter Jubber, as we speak filed paperwork with the U.S. Securities and Trade Fee (SEC) informing the regulator of a brand new fund devoted to bitcoin.
The beforehand unknown Smart Origin Bitcoin Index Fund I, LP was included this yr and is being run from the identical Boston headquarters the place the investing large manages $8.three trillion in buyer funds. The early documentation supplies little in the way in which of particulars concerning the fund, and reveals zero traders have presently participated. We do know that the minimal funding to affix the pooled funding fund is $100,000, indicating that is possible just for institutional and accredited traders.
Nonetheless, to offer an concept of how Constancy would possibly finally use the newly revealed fund, the agency just lately printed the outcomes of a survey of 800 institutional traders from the U.S. and Europe, discovering that 36% of respondents had been already invested in digital property, whereas 60% stated digital property had a spot of their portfolio.
That is the newest growth at Constancy, exhibiting the seriousness with which it’s taking bitcoin as an investable asset. A yr after changing into one of many earliest institutional supporters of bitcoin in 2017 when Constancy CEO Abigail Johnson publicly stated she’d been mining the asset, the corporate formalized its curiosity with the launch of Constancy Digital Property.
The next yr, in 2019, the New York Division of Monetary Providers
Whereas it stays unclear the connection between Smart Origin Funds and Constancy Digital Asset, Smithfield, Rhode Island-based Constancy Brokerage Providers LLC will function the fund’s custodian, in accordance with the paperwork. A voice on Smart Origin’s answering machine identifies the group as Smart Origin Funds. A trademark utility for that title was filed by Constancy mental property vp Thomas Barry and is presently underneath assessment by the U.S. Patent and Trademark Workplace.
A separate Smart Origin fund for $560,000 was filed in January, however made no reference to bitcoin.