Coinbase Custody to Power $500 Million Fund Launched by Wilshire PhoenixBTC Casino / 2nd November 2018
Coinbase remains one of the most successful cryptocurrency companies in the world. Their trading platform is of increasing interest to speculators and enthusiasts alike. Together with Wilshire Phoenix, the company is now launching a new $500m fund. The quest to gain traction among institutional clients is still ongoing.
Wilshire Phoenix and Coinbase Team Up
Several months ago, Coinbase made its future intentions clear for everyone to see. Pursuing traction among institutional investors is a major struggle. The firm even launched its own Custody service in an effort to make a meaningful impact. That was, by the look of things, only the first step along the way for this cryptocurrency company.
A new partnership with Wilshire Phoenix is designed to take things to a whole new level. Bringing Coinbase Custody to a new $500m fund is a major step in the right direction. This new fund will provide exposure to Bitcoin first and foremost. There is no indication any of the top alternative cryptocurrencies will be supported.
This new fund makes it easier for institutional traders to gain exposure to Bitcoin. Both accredited investors and financial institutions are among the target group for Wilshire Phoenix. There will be no futures contracts or derivatives as part of this new service. Instead, it makes use of a patent-pending method to mitigate risk. Bitcoin remains a volatile asset first and foremost.
Another Institutional-oriented Effort
This news comes at an interesting time. Bitcoin recently celebrated its 10th anniversary, a major milestone for the world’s leading cryptocurrency. It appears as if Bitcoin has now grown up and is ready to explore new horizons. Gaining traction among institutional traders remains one of the key options being explored. Wilshire Phoenix Founder Bill Hermann explains this partnership:
Coinbase Custody provides Wilshire Phoenix a best in class platform on which to securely store digital assets. They are steadfast in their commitment to implementing and executing solutions for institutional clients as opposed to merely talking about their future plans to do so. We are excited to have Coinbase in our corner and we look forward to our continued partnership in the months and years to come.
For Coinbase, this new partnership highlights strategic market opportunities. Its custody service recently received NYDFS approval. This decision allows the company to offer custody services for all of the top cryptocurrencies and digital assets. That list includes Bitcoin, Ethereum, Litecoin, and XRP, among others.
Do you think that Coinbase and Wilshire Phoenix’s new fund will help bring the much-coveted institutional investors into the crypto space? Let us know in the comments below.
HYMN Sarah Brightman In Concert at Tropicana Atlantic City February 2, 2019
Monday September 24, 2018
Tickets are on sale now via Ticketmaster.com and at the Tropicana Box Office ATLANTIC CITY, NJ (September 24, 2018) – The world’s most successful and best-selling soprano Sarah Brightman is coming to Tropicana Atlantic City’s Tropicana Showroom on Saturday, February 2, 2019 at 8 p.m. for HYMN Sarah Brightman In Concert. Tickets are available for…
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Soi kèo bóng đá Xứ Wales vs Đan Mạch, ngày 16/11: Gây cấn phút chót
Thursday November 15, 2018
Kèo bóng đá Xứ Wales vs Đan Mạch – 02h45 sáng ngày 17/11/2018 – Giải Vô Địch Các Quốc Gia Châu Âu – UEFA Nations League. Soi kèo hiệp 1 trận Xứ Wales vs Đan Mạch Ngay lúc này tại Bảng B, Nhóm 4 thuộc khuôn khổ Nations League, dù thi […]
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