By Staff Writer
Diginex Asset Management (Diginex AM), a unit of Hong Kong-based blockchain investment firm Diginex, has gained two types of licenses from the HK Securities and Futures Commission (SFC), the company said in a statement.
Diginex AM, which plans to offer professional investors with a fund of fund strategies focusing on digital assets, has been granted a Type 4 (advisory) and Type 9 (asset management) license by the city’s securities watchdog.
Richard Byworth, the chief executive of Diginex Group, said that the Diginex AM is among the first companies focused on digital asset strategies to receive these licenses.
“Diginex strives to set a new standard for the blockchain industry so we can enable institutional adoption of this new technology as well as the digital asset class,” Byworth said.
As had been seen with traditional hedge funds, a multi-manager approach can be a compelling way for professional investors to gain exposure to this exciting new asset class.
“Alongside the license application, the Dignex AM team has vetted more than 200 digital asset hedge funds globally with the aim of building a diversified, all-weather vehicle focused on risk-adjusted returns in a liquid and transparent fashion,” the statement said.
Last December, Diginex Group acquired a 75% stake of Bletchley Park Asset Management (BPAM), a market leading digital asset hedge fund regulated in Jersey, with a focus on growth-oriented fundamental digital asset investing and pure alpha market-neutral strategies.
The market capitalization of digital assets is projected to grow from $250bn to $6.7tn in 2025 with institutions expected to significantly drive that growth.