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Global Advisors Investment Fund plc (GABI) has today been admitted to the Channel Islands' Securities Exchange (CISE) to become the first regulated bitcoin fund to be listed on any exchange globally.
The CISE says it has approved the listing of all of the "...redeemable participating no par value shares of the open ended fund", which is managed by Global Advisors (Jersey) Limited.
GABI was launched in 2014 as the world’s first regulated bitcoin fund when it received certification as an expert fund from the Jersey Financial Services Commission.
Fiona Le Poidevin, CEO of the CISE, said: “I have followed GABI since its prominent launch and it is very exciting that we are able to play a part in the next chapter of this innovative structure.”
Jonathan Bale of MJ Hudson, a specialist alternative asset law firm who has been representing the firm through the listing process. “This is testament to the hard work that Global Advisors’ principals, Daniel Masters, Jean-Marie Mognetti and Russell Newton, have put in to evolving an institutionally robust offering.”
Mr Masters added: “The time is right. Bitcoin now has a market capitalisation of over $12.4 billion, an all-time high, with approximately 16 million coins in issue. Bitcoin is the leading digital currency, ranking 73rd in total amount in circulation on the global list of M1 forms of money. Several leading analysts are now covering the currency, with a recent report from Canaccord Genuity projecting an eight-fold increase in implied value within a decade.”
GABI is the third exchange listing for Global Advisors. The firm currently manages two Bitcoin Exchange Traded Certificates –COINXBT and COINXBE – on NASDAQ’s OMX in Stockholm. Mr Masters says that the firm is developing as a leading platform for digital assets combining digital asset management, direct market access and working with start-up firms developing distributed ledger technologies, including Glint, Gradbase and Aventus Systems.
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