Digital asset manager IDEG is launching what information technology claims are Asia's kickoff Bitcoin (BTC) trusts.

The two new funds — Asia Bitcoin Trust I and Atlas Mining Trust I —  were officially announced in a press release on December. 8, confirming an earlier disclosure from the firm in Hong Kong in late November.

Coinbase Custody will deed as custodian for both trusts, with Asia-based Profound Trust Company interim as trustee. The combined size of the two trusts is $200 meg.

Bringing sometime money to a new sector

The kickoff of the two funds, Asia Bitcoin Trust I, is an actively managed investment vehicle and as such, is being pitched by the firm equally a contrast to the Grayscale Bitcoin Trust , which has seen consistent year-on-year appreciation, outstripping many traditional investments.

Whereas Grayscale Bitcoin Trust is passively managed, IDEG is setting its approach apart from that of  its predecessor, equally the firm'south CEO Kevin Yang states:

"As the investment manager of the Trust, IDEG will utilize a range of hedging and arbitrage strategies in order to gain more than Bitcoin for the investors and meanwhile finer control the risk of drawdowns."

IDEG is aiming to further bulldoze traditional investors to include crypto in their allotment strategies by offer a 2nd trust that enables investors to share in the profits generated from IDEG's mining business.

In his statement, IDEG founder Raymond Yuan claimed that the firm is seeing solid render ratios on its mining activities considering of its focus on capex, opex, operational and run a risk management strategies, as well its chapters to invest in hardware and infrastructure.

"Individual miners are dropping out because institutional miners like us tin can improve in near every attribute," he claimed.

U.Due south. precedents

Equally reported, Grayscale Bitcoin Trust (GBTC) has recently filed a Form 10 with the United States Securities and Exchange Committee (SEC) in a bid to get the start crypto fund to report to the regulator.

If approved, this would designate the fund every bit an SEC reporting company and crave it to register its shares under the country'due south Substitution Human action. Ostensibly, given that many institutions hinder investors from considering trusts that lack SEC-blessing, Grayscale's eligible investor base could widen considerably should the filing be successful.

As Cointelegraph reported in September, some other U.S.-based investment management business firm VanEck has also launched its own Bitcoin trust, but gained relatively depression traction in the start week of its operations.