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The digital asset subsidiary of Nomura Group, Japan’s largest investment bank and brokerage group, has launched a Bitcoin fund. The fund is the first digital adoption investment solution by Nomura’s subsidiary and will enable institutional investors to access digital assets amid rising demand.
Nomura’s digital assets subsidiary Laser Digital Asset Management launched the Bitcoin Adoption Fund for institutional investors, according to a press release on September 19. The Bitcoin fund shows the scope of crypto adoption in Japan.
The Laser Digital Bitcoin Adoption Fund will help institutional investors get exposure to Bitcoin, while being cost-effective and secure. Laser uses the regulated custody solution Komainu, which was founded in 2018 by Nomura, Ledger, and Coinshares to secure the fund’s assets.
Sebastien Guglietta, head of Laser Digital Asset Management, said:
“Technology is a key driver of global economic growth and is transforming a large part of the economy from analogue to digital. Bitcoin is one of the enablers of this long-lasting transformational change and long-term exposure to Bitcoin offers a solution to investors to capture this macro trend.”
Laser Digital Asset Management’s head Fiona King claims the Bitcoin fund has the highest levels of risk management and compliance. Also, the fund is a segregated portfolio part of Laser Digital Funds SPC, a registered mutual fund.
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Nomura’s Bitcoin and Crypto Bet
Nomura Holdings planned to turn its crypto unit Laser Digital profitable in two years. It competes with other traditional giants such as JPMorgan and Goldman Sachs amid rising demand for Bitcoin and other cryptocurrencies.
However, the long bear market has also impacted Laser Digital’s plan despite offering Bitcoin derivatives to its institutional clients. Nomura recently stated that Laser Digital could take longer than expected to become profitable amid the recent rout in the crypto market.
BTC price currently trades at $27232, up nearly 45% in a year. Bitcoin is under pressure amid the U.S. SEC’s anti-crypto approach and lack of regulatory clarity.
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