Nomura-owned Laser Digital aims to support institutional investment strategies with the new fund, which follows the launch of a Bitcoin Adoption Fund in September.
Japan’s largest investment bank Nomura Holdings is launching an Ethereum-based fund for institutional investors through its digital asset subsidiary Laser Digital Asset Management, according to a press release Nov. 9.
The ‘Laser Digital Ethereum Adoption Fund SP’ fund is the second in a series of digital adoption investment solutions from Laser Digital following the launch of the Laser Digital Bitcoin Adoption Fund in September.
Ethereum Adoption Fund
The new fund will primarily target long spot positions in Ethereum. It enhances returns through an innovative strategy that involves staking the ETH held by the fund. The fund is managed as a segregated portfolio within Laser Digital Funds SPC, a segregated portfolio company registered in the Cayman Islands.
Laser Digital has partnered with Komainu as custodian of the fund’s assets. The company also acts as custodian for the Laser Digital Bitcoin Fund. Komainu is regulated by the UK Financial Conduct Authority and the Dubai Virtual Assets Authority.
Sebastian Guglietta, head of Laser Digital Asset Management and former chief scientist at Nomura, said the company sees Ethereum as a technological catalyst for the digitization of the economy. He added that in the long run, exposure to Ethereum is critical to capturing the structural technological trends of the Web 3 economy.
Meanwhile, Fiona King, head of distribution at Laser Digital Asset Management, said the fund will simplify digital asset investing and provide institutional investors with a safe way to invest in the industry as it is fully regulated.
Positive news drives ETH up
In addition to Nomura’s announcement, documents revealed on November 9 showed that BlackRock registered an Ethereum-based exchange-traded fund (ETF) in Delaware on the same day.
The ETF is registered as iShares Ethereum Trust, and BlackRock also filed for a Bitcoin ETF a week before applying to the SEC.
The news of large traditional financial institutions entering Ethereum caused the token to rebound and break through the $2,000 resistance level. The market shows that as of press time, ETH is trading at $2,007, up more than 5.8% in 24 hours. #以太坊ETF #日本
