"Wow that's the best, many big firms seem to like crypto more and more."
Laser Digital Asset Management, a subsidiary of Nomura Group which is Japan's largest investment bank and brokerage has launched a Bitcoin Adoption Fund for institutional investors.
The move is the first digital asset deployment investment solution by a Nomura Group subsidiary, which will allow institutional investors to access cryptocurrencies.
Not only will the Laser Digital Bitcoin Adoption Fund help institutional investors gain exposure to BTC, but it will also be cost-effective and safe to use.
Laser is reported to apply Komainu's custody solution founded in 2018 by Nomura, Ledger including Coinshares, where it aims to obtain fund assets.
In addition to stating that the BTC fund has relatively high risk management and compliance, Laser Digital Asset Management Head of Management Fiona King also said that the fund is a portfolio of Laser Digital Funds SPC.
Nomura Group plans to make the Laser Digital Bitcoin Adoption Fund profitable within two years, so they will have to compete with JPMorgan and Goldman Sachs amid rising crypto demand.
However, Nomura Group believes Laser Digital may take longer than expected to generate a significant amount of profit as the crypto market is currently still moving flat.
As of this writing, BTC price has surged by 2.06% to $27,290 in the last 24 hours with a market cap of $531 billion and is up 5.18% over the last week.
