- Laser Digital, a subsidiary of Japan-based financial giant Nomura, has announced the launch of a Bitcoin Adoption Fund targeting institutional investors.
- Asset management is the second part of Laser Digital’s strategy, following its operation of a venture capital fund that invests in web3, especially DeFi.
- The crypto community eagerly awaits the first approval of a Bitcoin exchange-traded fund (ETF) in the United States, which could encourage consumer adoption.
Nomura’s digital asset subsidiary Laser Digital aims to increase adoption by launching a Bitcoin fund for institutional investors.
Nomura’s Digital Asset Subsidiary Launches Bitcoin Fund
Today, Nomura’s digital asset subsidiary, Laser Digital, announced the Bitcoin Adoption Fund, targeting institutional investors. This is a long-term investment fund based in the Cayman Islands and backed by digital asset custody services provided by Komainu. Nomura co-founded Komainu in 2018 as a regulated custodian, alongside Ledger and CoinShares, an asset manager.
Sebastien Guglietta, President of Laser Digital Asset Management, stated, “Technology is a significant driver of global economic growth and is transforming a large part of the economy from analog to digital. Bitcoin is one of the keys to this long-term transformative change.”
Guglietta, who leads the fund, previously served as Chief Scientist at Nomura. Before that role, he held the same position at Brevan Howard and worked as a portfolio manager.
Asset management is the second part of Laser Digital’s strategy. They previously operated a venture capital fund that invested in web3, particularly DeFi. The third arm will involve digital asset trading. Their acquisition of elysium, a post-trade solution for FX and digital assets, is not coincidental.
Institutional Bitcoin Funds
The crypto community is eagerly awaiting the first approval of a Bitcoin exchange-traded fund (ETF) in the United States, which could encourage consumer adoption, though exchange-traded products already exist elsewhere. One example is the CoinShares Physical Crypto ETP.
However, institutions can indirectly gain exposure to Bitcoin without holding it directly. Several major banks, including Morgan Stanley and JPMorgan, have partnered with crypto specialist asset managers like NYDIG and Galaxy Digital. NYDIG manages several funds with over $750 million in assets, including the NYDIG Corporate Bitcoin Fund (launched in January). Last year, BlackRock launched a Bitcoin investment trust.
Additionally, there is the Grayscale Bitcoin Trust, which reached nearly a 50% discount to its net asset value earlier this year before narrowing to around 20% after winning an SEC lawsuit recently.
