DigitalX Launches DigitalX Investments to Profit from Leading Cryptocurrencies

DigitalX, a blockchain technology company based in Perth, Australia, provides ICO advisory and blockchain consulting services, as well as services tied to blockchain-related software development. 

DigitalX announced a voluntary suspension of its official quotation for several days until the fund was fully set up, and now it has finally said it is launching an investment service for cryptocurrencies.

The company’s managing director Leigh Travers said the fund will deal with leading crypto assets and special trading opportunities like initial coin offerings (ICOs). According to Travers, cryptocurrencies are under-researched by mainstream asset managers, and the company’s expertise will allow it to create value for clients in this area.
DigitalX invested $750,000 of its Bitcoin and Ethereum holdings in the fund, it will possess 73% as the investment advisor. The company’s shares surged 27% after the announcement about the launch of the fund.  

DigitalX rules stipulate that individual investment cannot exceed 20% of the fund assets, except into Bitcoin or cash, at the time of investment. In addition, crypto assets must have their legal character confirmed in the jurisdiction, in which these crypto assets are issued or offered.  

Australia has recently come under the spotlight when it comes to cryptocurrencies. Australia's financial intelligence agency, AUSTRAC, has started to register cryptocurrency exchange businesses on a mandatory basis in an attempt to prevent money laundering and terrorism financing. Also, the Australian regulator believes that these measures will help strengthen public confidence in the sector.