- A French banking giant is making it easier for asset managers to offer bitcoin-linked funds.
- The services are aimed at institutions looking to capitalize on the increased demand for BTC and cryptocurrency.
- The bank promises a “simple and tailored” bitcoin fund-raising experience with its new services.
French banking giant Societe Generale has introduced new services for its institutional clients as it tries to meet growing demand for bitcoin exposure among investors.
The new offerings will allow the bank’s asset management clients to offer bitcoin and cryptocurrency funds “in a simple and tailored way, within the European regulatory framework,” Societe Generale said in a statement.
“More and more investors want to integrate cryptocurrencies into their portfolios,” according to the statement. “Asset management companies are therefore looking to build new ranges of solutions invested primarily in digital assets.”
The bank said the services have already been adopted by independent asset manager Arquant Capital SAS to launch a bitcoin fund under French law.
“This solution provides Arquant Capital with an innovative structure that allows us to scale our offering and focus on creating value for our clients,” said Eron Angjele, CEO of Arquant Capital.
Bitcoin’s bear market has not slowed institutional interest in the digital currency. On Tuesday, news emerged that the world’s second-largest stock exchange, Nasdaq, was preparing to launch bitcoin and cryptocurrency custody services for institutions. On the same day, bullish Bitcoin firm MicroStrategy announced that it had bought more BTC, adding to a stack that now totals 130,000 accumulated bitcoins.