Apex Group Ltd. (“Apex” or “the Group”), a global financial services provider, has been appointed to provide fund services to Blockchain.com Asset Management (“BCAM”), a new crypto asset management platform powered by Blockchain.com with investments managed by Altis Partners (“Altis”).
BCAM’s Jersey-domiciled funds will offer regulated crypto investment products for institutional investors, family offices and high net worth individuals. The platform launches with a suite of index and systematic products such as a Bitcoin Tracker and a Bitcoin Smart Beta. The Bitcoin Tracker algorithmically trades Bitcoin to track its price versus USD, providing cheap, efficient exposure to Bitcoin, while Bitcoin Smart Beta offers an algorithm-based risk-managed exposure to bitcoin that aims to reduce volatility and drawdowns.
Apex will provide a full suite of fund solutions to the funds including compliance, KYC/AML, company secretary and transfer agency services delivered by Apex in Jersey and with fund administration offered by Apex’s Center of Excellence for Digital Assets in Malta.
Apex’s services will allow Blockchain.com and Altis to efficiently communicate with investors and implement robust controls, underpinned by secure technology solutions to expedite and simplify daily investment management tasks.
Founded in 2011, Blockchain.com allows 37 million verified users to buy, trade and store digital tokens such as Bitcoin. Over 82 million wallets have been created on Blockchain.com, with over a third of all Bitcoin network transactions taking place via the platform.
This announcement follows Apex Group’s recent acquisition of a majority stake in FundAdminChain, a distributed ledger-based network for launching, distributing, trading and settling collective investment funds.
David Barry, Global Head of Open-Ended Funds at Apex Group comments: “We’re excited to be supporting the launch of BCAM as Blockchain.com continues to lead the digital assets revolution by offering institutional investors sophisticated investment strategies for crypto assets, underpinned by robust controls and procedures. This appointment is further evidence of Apex’s forward looking and adaptable full-service model, which enables us to support all asset types.”
Charles McGarraugh, Chief Strategy Officer, Blockchain.com further adds: “Apex has demonstrated exceptional flexibility and speed to adapt to the fast-moving world of crypto assets. As we provide institutional investors with a new way to access the crypto space in a regulated environment, Apex offers additional comfort to our investors as a reputable and trusted partner ensuring our full compliance and maximum operational efficiency.”
Stephen Hedgecock, CEO & Founding Principal, Altis Partners further commented: “We’re excited to partner with a crypto-native firm like Blockchain.com to bring BCAM to market. This platform is further evidence of the increasing appeal of institutional grade crypto investment vehicles, and we are delighted to make it available to our sophisticated client base.”