The world’s first regulator-approved
Bitcoin investment fund is about to open its doors for business
in Jersey. While the self-governing island is keen to position
itself as a Bitcoin hub, launching the exchange presented
supervisors with some difficult decisions.
Known as Global Advisors Bitcoin
Investment Fund (GABI), the fund is a Jersey-regulated
open-ended investment fund.
The fund benefitted from
high-level government support, and Digital Jersey which is
supporting the island’s emerging digital finance
Nevertheless, Bitcoin is a new asset class, which is growing
and changing all the time. "That brings inherent risks from the
Jersey Financial Services Commission’s
[JFSC’S] perspective," said Carey Olsen