Ben Strack

The asset management unit of Nomura-backed crypto firm Laser Digital has introduced its first cryptocurrency fund, and intends to launch more products that go beyond bitcoin.



Its Bitcoin Adoption Fund, which launched on Tuesday, offers institutional investors long-only investment exposure in Bitcoin. This is the first of several &#8220;digital adoption investment solutions&#8221; that the company plans to introduce.



“Funds exploiting alpha and beta from both traditional and digital asset classes will follow,” Laser Digital Asset Management head Sebastien Guglietta told Blockworks.&nbsp;



He declined to comment on what types of products in particular could be next.&nbsp;&nbsp;



Japan-based investment bank Nomura <a href="https://blockworks.co/news/nomura-targets-crypto-venture-space-with-laser-digital">introduced Laser Digital last year</a>. The Swiss company was set to focus on Web3 and blockchain companies initially before branching out to offer trading and investment products to institutional clients.



Laser Digital’s asset management unit formed in February, with team members spread across London, Zurich and Dubai. It now has one product under its belt.&nbsp;



Registered as a mutual fund under the Cayman Islands Regulatory Authority, the fund has been registered for marketing in Ireland, Luxembourg and the UK, Guglietta said.&nbsp;



“Additional registrations may follow depending on investor demand,” he added.&nbsp;



Before being tapped to lead Laser Digital Asset Management, Guglietta was Nomura’s chief scientist officer. He also previously worked as a portfolio manager and senior scientist at hedge fund Brevan Howard.



After partnering with crypto asset manager CoinShares and digital asset security company Ledger in 2020 to start the crypto custodian Komainu, Nomura established Laser Digital. This later led to the creation of Laser Digital&#8217;s fund group.



<a href="https://blockworks.co/news/nomura-laser-digital-dubai-license">Laser Digital gained a full crypto license</a> from Dubai’s Virtual Asset Regulatory Authority in July. The company hinted at its latest product launch at the time, noting it would develop “[over-the-counter] trading services and a comprehensive range of digital asset investment products and solutions.”



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Laser Digital’s new asset management arm plotting full crypto suite

Sam Reynolds

<div id="highlights-block_6130fd3fd12de" class="highlights">
 <ul>
 <li>Reports from Bloomberg say that Paul Tudor Jones’ Tudor Group is working on a digital disruption fund that likely has a crypto angle </li>
 <li>Tudor Group has declined to comment </li>
 </ul>
 
</div>



Bitcoin reminds billionaire fund manager Paul Tudor Jones of undervalued internet stocks of 1999. Now reports from <a href="https://twitter.com/DeItaone/status/1433445217487687683?s=20" target="_blank" rel="noreferrer noopener">Bloomberg</a> say that Jones’ Tudor Group is setting up a digital disruption fund that will likely have a crypto angle.&nbsp;



“Bitcoin reminds me so much of the internet stocks of 1999 because the internet was in its infancy. No one knew how to value it because of the world of possibility that lay ahead. What you can be certain of is that probably 20 years from now, our kids and grandkids, whatever, all of us, we’ll be using some type of digital currency. Digital currency will be used by every sovereign,” Jones said during a <a href="https://finance.yahoo.com/news/paul-tudor-jones-on-bitcoin-180803661.html" target="_blank" rel="noreferrer noopener">December 2020 interview</a> with Yahoo Finance.&nbsp;



In addition, Jones has likened cryptocurrencies such as usable industrial metals such as “copper, platinum, and palladium.” In order to access the growing, disruptive world of things like decentralized finance, Jones argued, you need Ethereum, an “industrial digital asset”.&nbsp;



When reached for comment, the Tudor Group declined Blockworks’ invitation to speak more on the subject. 



Blockworks sources at the group confirmed the fund but could not share details on the record.



During a <a href="https://cms.blockworks.co/paul-tudor-jones-likes-bitcoin-as-portfolio-diversifier/" target="_blank" rel="noreferrer noopener">June interview with CNBC</a>, Jones said he likes bitcoin as a portfolio diversifier to protect portfolios amid the uncertainty of potential actions the Federal Reserve could take.



“The only thing I know for certain is I want to have 5% in gold, 5% in bitcoin, 5% in cash and 5% in commodities at this point in time,” Jones is quoted as saying. “I don’t know what I want to do with the other 80%. I want to wait and see what the Fed’s going to do because what they do will have a big impact.”



Jones personally has been an active investor in crypto infrastructure, participating in <a href="https://cms.blockworks.co/ftx-closes-900m-series-b-round-valuing-exchange-at-18b/" target="_blank" rel="noreferrer noopener">FTX’s $900 million round</a> that valued the exchange at $18 billion.



According to 13F filings, Tudor Investment Corp, Jones’ eponymous fund owns approximately 6500 shares of Riot Blockchain, worth around $248,000, 15,000 shares of miner Marathon Digital, worth approximately $479,000. As of last quarter, the fund doesn’t hold shares of Coinbase or Galaxy Digital, two of the more prominent publicly listed crypto companies.



The price of bitcoin continued climbing on the news, up 5% in the last 24 hours and is currently at $49,600 according to <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noreferrer noopener">CoinGecko</a>.&nbsp;



Want more investor-focused content on digital assets?&nbsp;<a target="_blank" href="https://cms.blockworks.co/events/digital-asset-summit-2021-2/" rel="noreferrer noopener">Join us</a>&nbsp;September 13th and 14th for the Digital Asset Summit (DAS) in NYC. Use code ARTICLE for $75 off your ticket.&nbsp;<a target="_blank" href="https://cms.blockworks.co/events/digital-asset-summit-2021-2/" rel="noreferrer noopener">Buy it now</a>.

bitcoin fund