Europe’s first bitcoin mutual fund launched by Tobam

A small Paris-based asset manager has launched Europe’s first bitcoin mutual fund in a move intended to draw institutional investor interest in the volatile cryptocurrency that has surged from $1,000 to more than $8,300 this year. The unregulated Tobam bitcoin fund is the latest evidence that cryptocurrencies are pushing deeper into the mainstream, and comes ahead of the Chicago Mercantile Exchange’s plans to start listing bitcoin futures with a centralised clearing mechanism. There are significant regulatory hurdles for asset managers to buy bitcoin and other cryptocurrencies, which are often associated…

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