The global investment platform of financial services firm Cantor Fitzgerald is launching a new product that will allow investors to benefit from the price movement of Bitcoin (BTC) while providing a hedge against risks.
Cantor Fitzgerald Asset Management (CFAM) says that the Fitzgerald Gold Protected Bitcoin Fund will give investors direct exposure to the flagship cryptocurrency as well as one-to-one downside protection based on the price of gold.
The firm, which holds approximately $14.8 billion in assets under management (AUM), says the fund will be its first Bitcoin-focused investment vehicle.
Says Cantor Fitzgerald chairman Brandon G. Lutnick,
“At Cantor, we are focused on delivering innovative products that support clients seeking exposure to digital asset investments. We believe this is a truly groundbreaking investment vehicle—one that helps investors to tap into Bitcoin’s potential growth with downside protection based on the price of gold.”
CFAM says the fund is structured with a five-year duration and will begin accepting capital from investors in the coming weeks.
On Tuesday, Cantor Fitzgerald also announced that its Bitcoin Financing Business has successfully executed its first transactions. The new business venture, which expects to make $2 billion in financing available in its initial phase, provides leverage to institutional investors of the benchmark crypto asset.
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