Napoleon AM has launched the Napoleon Bitcoin Fund, a Specialized Professional Fund under the French law, with daily liquidity, and one of the first regulated vehicles in the world offering exposure to the performance of Bitcoin, the main digital asset.
The fund aims to replicate the performance of Bitcoin via Futures listed on the Chicago Mercantile Exchange in cash settlement, thereby avoiding the problem of storing and valuing Bitcoin. It offers daily liquidity to investors and uses the services of Financière d’Uzès as Custodian and PwC as Auditor to meet client standards.
As the first digital asset, Napoleon AM says Bitcoin is particularly unique. With more than 10 years of existence, a market value of around USD137 billion and a daily trading volume of over USD17 billion, Bitcoin has unprecedented characteristics: very high volatility, an abnormally biased performance distribution in favour of positive returns and a very low correlation to traditional assets (shares, bonds, commodities). Napoleon says it is the ideal asset to introduce into a diversified portfolio to optimise risk/return ratios.
Stéphane Ifrah, President of Napoleon AM, says: “This fund is the culmination of our discussions with the regulator and our partners to offer a real alternative to professional investors. We are proud to contribute to the institutionalisation and democratisation of digital assets through a unique regulated fund under the French law.”