Montreal-based portfolio management firm Rivemont Investments on Monday announced the launch of Rivemont Crypto Fund, effective Oct. 20.
The new cryptocurrency fund is available to accredited Canadian investors and clients of Canadian portfolio managers.
Total cryptocurrency capitalization now exceeds $210 billion, according to the firm’s announcement, the best-known currency of this type being the bitcoin.
The actively managed Canadian cryptocurrency fund will initially invest primarily in the leading cryptocurrencies, such as bitcoin and ethereum. The fund may also invest in various emerging altcoins, based on strong fundamentals, and could buy into initial coin offerings.
The fund is primarily a simplified vehicle for investing in the complex emerging cryptocurrency market, while taking advantage of the expertise of seasoned industry analysts, the firm says.
“Some firms have announced the launch of similar funds,” notes Martin Lalonde, Rivemont president, “but the Rivemont Crypto Fund is the only one thus far that is really accessible to accredited Canadian investors.”
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