Japan’s largest investment bank Nomura, with a portfolio of over $500 billion in assets under management, has marked another strategic move into the digital asset market through its digital subsidiary Laser Digital Asset Management, which announced the launch of a Bitcoin Adoption Fund for institutional investors.
The Bitcoin-based fund is set to be the first in a range of cryptocurrency investment solutions the firm is planning on introducing and will offer direct exposure to BTC to the firm’s institutional investors.
The Bitcoin Adoption Fund is designed to offer investors long-term exposure to the flagship cryptocurrency, with the Japanese financial behemoth choosing Komainu as its regulated custody partner.
The fund stands as a portion of the Laser Digital Funds Segregated Portfolio Company, recognized and registered as a mutual fund compliant with the directives of the Cayman Islands Regulatory Authority.
Sebastien Guglietta, at the helm of Laser Digital Asset Management, was quoted saying that Bitcoin is one of the enablers of long-term transformative changes, with long-term exposure to the flagship cryptocurrency offering investors a solution to capture the overarching macroeconomic paradigm shift.
Back in September 2022, Nomura pioneered its digital asset-focused venture capital division, positioning itself at the digital innovation vanguard. Moreover, earlier this August, Nomura’s crypto-centric subsidiary, Laser Digital, secured the coveted Virtual Asset Regulatory Authority (VARA) license, permitting operations in Dubai.
The fund’s launch comes at a time in which major financial powerhouses that collectively manage an astounding $27 trillion in assets are making inroads into the world of Bitcoin and cryptocurrency after a race to list the first spot Bitcoin exchange-traded fund (ETF) in the United States kicked off.
As noted by CoinShares Chief Strategy Officer, Meltem Demirors, at least eight financial behemoths, which include BlackRock, Fidelity, JP Morgan, Morgan Stanley, Goldman Sachs, BNY Mellon, Invesco, and Bank of America are “actively working to provide access to Bitcoin and more.”
The $27 trillion figure, it’s important to point out, represents a grand total of assets under management across the aforementioned institutions, and only a minuscule fragment of this gargantuan sum is anticipated to be channeled into cryptocurrency investments, as Cointelegraph noted.
Featured image via Unsplash.