RATE Group | IDEG Reports Launch of New Bitcoin Trusts in Asia With Coinbase as Custodian
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IDEG Reports Launch of New Bitcoin Trusts in Asia With Coinbase as Custodian

12 Dec IDEG Reports Launch of New Bitcoin Trusts in Asia With Coinbase as Custodian

Posted at 08:17h in Bitcoin News by

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IDEG Reports Launch of New Bitcoin Trusts in Asia With Coinbase as Custodian

According to a recent press release from IDEG Investment Limited, “Asia’s First Bitcoin Trusts” have been launched “as a traditional and comfortable way for ‘old money’ to invest in digital assets.” The two trusts, Asia Bitcoin Trust I and Atlas Mining Trust I, reportedly allow for investors to gain wrapped exposure to bitcoin and to participate in mining profit sharing, respectively. The total size of the trusts, according to IDEG, stands at $200 million, with Coinbase Custody acting as custodian for both.

Also Read: Bakkt Launches Bitcoin Options in US, Futures in Asia

New Trusts for the Asian Market

IDEG, a “trading platform that bridges the worlds of fiat currencies and digital assets” made a formal press announcement posted to ACN Newswire Dec. 8, stating: “IDEG Investment Ltd, a professional digital asset management company, announced on Nov. 27 in Hong Kong the launch of Asia Bitcoin Trust I and Atlas Mining Trust I, two…

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