Bitcoin Global News (BGN)
March 19, 2019 -- ADVFN Crypto NewsWire -- We all know the major benefit of investing in a mutual fund. You get the most diversification that it is possible to get on the market, typically across different industries. With the continued rise of cryptocurrencies, it is logical to question when they will truly play a major part in this niche.
Last year, the Canadian Bitcoin Fund was given regulatory approval to operate as a mutual fund trust, which meant that it appeared to be one of the first to truly become legitimate. At the same time, both this offering and the latest, which experienced a major move forward today, are only available to accredited investors.
Still the fact that Blockchain Capital’s security token, which relates to the second offering mentioned above, has been given the go-ahead to be stored by BitGo, which is a regulated custodian, is significant. Blockchain Capital’s BCAP token gives investors a share in what is basically a crypto mutual fund that puts its’ faith in early-stage blockchain startups.
If regulators have no problem allowing such a fund to operate in the United States, then it cannot be long before similar opportunities are made available to the average consumer, right? In truth, this is not exactly the case, both because BitGO is running with the mission of making digital currencies usable for businesses and not consumers and because the walled gardens appear to be growing.
If you are wondering what we mean by this, take a look at how many investment opportunities in the blockchain industry are only available to accredited investors. Until someone figures out how to convince regulators that cryptocurrencies are safe for everyone, we will likely continue to see this Silicon Valley-like evolution of the space unfold.
By: BGN Editorial Staff