CoinJar Digital Currency Fund
Fintech start-up CoinJar has launched an index-style cryptocurrency fund, called the CoinJar Digital Currency Fund.
The fund has two classes. One which provides exposure to Bitcoin only - Bitcoin Class (BTC), and another called Mixed Class, which aims to track the performance of four digital currencies, weighted by fixed supply – Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC).
The fund enables wholesale investors to invest in cryptocurrency with Australian dollars. The underlying cryptocurrency assets are secured safely in multi-signature digital wallets, which provide an additional layer of security for investors, according to CoinJar. Management fees are 1.3% per annum for Bitcoin Class and 1.8% per annum for Mixed Class