- Epoch says subscriptions for the fund will be capped at JPY100 billion (~$900 million)
- The firm plans to invest in a vast array of cryptoassets and initial coin offerings (ICOs)
- Epoch has filed its Securities Registration Statement with Japan’s FSA since September 28, 2018, but subscriptions officially begins on October 15.
Epoch Partners Limited, a Cayman Island-based firm has reportedly launched what it calls the world’s first initial public offering (IPO) of a cryptocurrency fund, to give retail investors diversified exposure to a vast array of blockchain-based digital assets, according to a Finance Magnates report on October 15th.
Epoch Crypto IPO Live in Japan
According to sources close to the matter, Epoch Partners Limited, a firm headquartered in the Cayman Islands has announced the launch of what it claims to be the world’s first cryptocurrency and digital assets-linked fund in bitcoin-friendly Japan.
While bitcoin, altcoins and distributed ledger technology (DLT) are undoubtedly new and yet to be fully regulated, the fact remains that the innovative digital asset class is fast gaining traction in the global finance ecosystem.
Epoch has reportedly made it clear that it’s latching onto the cryptocurrency bandwagon due to the increasing popularity of the crypto space.
Epoch says it would use its expertise in hedge fund management to invest in bitcoin and other cryptocurrency-based funds, initial coin offerings (ICOs) and other digital assets in a way that would generate massive returns while also avoiding being crushed by volatility.
Epoch plans to operate in full compliance with the statutes of Japanese regulators. As such, in late September, the firm filed the Securities Registration Statement for its fund on EDINET, which is the disclosure system of the nation’s regulatory watchdog, the Financial Services Agency (FSA).
With subscriptions for the fund officially live, Epoch has noted that it is capped at 100 billion Japanese yen ($900 million) and Teneo Partners, Tokyo-based Japanese securities company, alongside other local firms will handle the marketing operations of the fund.
Japan still Crypto Capital of the World?
Though the region has had its fair share of cryptocurrency exchange hacks and heists in recent times, Japan, the first nation to officially recognize bitcoin as legal tender and amenably regulate its cryptocurrency industry, remains a formidable force in the cryptoverse.
James Skinner, a partner at Epoch Partners, reiterated that the firm chose Japan as its destination of choice for launching the world’s first crypto IPO due to the nation’s liberal stance towards the nascent technology.
In spite of the slump in the price of bitcoin and other digital currencies, more and more institutional investors are buying the dip with each passing day.
As reported by Blockchain Reporter on October 7th, Yale University invested in Paradigm Fund, a $400 million crypto and DLT fund.