American investment manager APEX Token Fund has introduced a tokenised cryptocurrency-focused fund-of-hedge funds, what it claims to be a world first.
The new vehicle makes available to non-US investors assets managed by various crypto-currency hedge funds.
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For participation in the fund, investors will be required to buy APEX tokens registered on the Ethereum blockchain for a minimum investment of 0.1 ETH.
The token sale is scheduled to commence in March of next year, with the APEX token to initially cost $1.00. The fund will be managed by Christopher Keshian and Ari Nazir.
Apex Token Fund managing partner Christopher Keshian said: “To truly bring crypto-assets into the mainstream, we must develop more mature financial products suitable for a larger body of investors. The APEX Token Fund uses technology which will unlock liquidity, manage volatility and lower barriers to entry for a larger market of global investors.”
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By GlobalData
