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Singapore approves Bitcoin fund that trades physical BTC

[https://finance.yahoo.com/news/singapore-approves-bitcoin-fund-trades-143736863.html](https://finance.yahoo.com/news/singapore-approves-bitcoin-fund-trades-143736863.html)



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29 Comments

  1. Huge news.

    > “The fund acquires ‘physical’ bitcoin, meaning we will buy the actual bitcoin [rather than] a derivative instrument on bitcoin,” said Adrian Chng, founder and chairman of Fintonia Group, per the report.
    >
    > The Fintonia Bitcoin Physical Fund aims to provide investors with “quick, safe, and cost-efficient” bitcoin exposure through a more convenient investment vehicle by purchasing and holding BTC directly. The manager said a “licensed and insured custodian” will hold the fund’s bitcoin.

    https://www.nasdaq.com/articles/physical-bitcoin-fund-approved-in-singapore

  2. This is HUGE news, Singapore is one of the worlds financial hubs, it’s financial authorities are trusted and respected. It will generate a LOT of corporate inflows into Bitcoin.

  3. This may be the thing that eventually kills Bitcoin. The PTB convince the people to trust the regulated institutions to hold their “physical” assets for the eased record keeping, the tax incentives, and the conveeenience of not having to remember any passwords, Then a war happens, or a virus, or an environmental crisis, and while everyone is doing their “fair share” to fight this new calamity, the PTB plays the ol’ switcheroo and changes the keys.

    You won’t be hearing about it in the “news” when it happens.

  4. “The fund acquires ‘physical’ bitcoin, meaning we will buy the actual bitcoin [rather than] a derivative instrument on bitcoin,” said Adrian Chng, founder and chairman of Fintonia Group, per the report.

What do you think?

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