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Open to qualified US and international institutional and accredited retail investors, the investment vehicle is the management firm’s newest product suite addition
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The Fund provides exposure to Sumcoin, an aggregate sum of the market capitalization of the top 100 coins.
U.S. based fintech company Ubiquitous Index Management announced the launch of the BMCS Sumcoin Index Fund , a new cryptocurrency investment fund (the “fund”). Backed by a $15M initial investment, BMCS Sumcoin Index Fund provides exposure to Sumcoin, the world’s first cryptographic index of the top 100 coins.
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The Fund employs a single-asset investment strategy and seeks to generate capital appreciation derived from high-performing digital coins. Through the fund, investors will have the opportunity to invest capital in Sumcoin, a cryptographic blockchain and index, guarded by a proof-of-work algorithm, that tracks and analyzes a combined market capitalization of the top 100 coins, as a means to aggregate their values into one coin.Instead of having to monitor the prices of 100 separate coins, Sumcoin deploys an investment model that aims to mitigate risk and shield investors from high-risk factors and has the potential for attractive risk-adjusted returns. Sumcoin is a crypto alternative offering for investors who want to invest in cryptocurrencies but may only want to hold one coin for simplicity.
The fund is widely available to qualified US investors, alongside international institutional and accredited retail investors with a minimum initial contribution of $25,000 to participate. In total, the BMCS Sumcoin Index Fund manages approximately $54 million in assets to date. Shares are available via private placement to accredited investors directly from BMCS-OTC publicly traded shares are also tradeable under the ticker BMCS-OTC.
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Founded by Chief Executive Officer Tony Miller, BMCS Sumcoin seeks to be a transparent and safe alternative to large personal investments with Ubiquitous Index Management over-seeing the entire process.
“My unique background in running public companies and passion for blockchain technology is what has driven the vision behind the BMCS Sumcoin Index Fund. We are excited to expand crypto offerings to more people who are looking to dip their toes in the water. The entire crypto landscape is burgeoning and we believe Sumcoin is an overlooked opportunity. Our goal is to enhance the value and liquidity of Sumcoin in the digital ecosystem. We also view it as our chance to introduce these opportunities responsibly with a focus on privacy and exemplary service,” said Tony Miller, CEO of BMCS Sumcoin Index Fund.
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