“The time is right,” Global Advisor Principal Daniel Masters commented in a press release issued today:
“Today's listing of GABI on the CISE acknowledges how far we have come over the last two years since GABI was launched as the world's first regulated Bitcoin fund, as well as the transformational role Bitcoin is starting to play as a global currency and its emergence as an important, uncorrelated asset class for investors.”
He added that recent analysis showing an eight-fold increase in implied value by 2026 also helped spur the listing.
The pay-off from the exchange listing is not least a boost to the funds’ reputation, Bale says, with GABI now “able to demonstrate the oversight, due diligence and monitoring that comes with regulation and an exchange listing.”
GABI is being sponsored by local firm Verras Professional Services, whose Director Jonathan Bale is also the specialist at the alternative asset law firm which helped the fund list successfully.
Earlier this year, fellow British territory Gibraltar launched the first Bitcoin exchange-traded instrument. It became Europe’s first regulated Bitcoin instrument, trading on the Gibraltar Stock Exchange and Germany’s Deutsche Börse.
It will trade on the Channel Islands Securities Exchange (CISE).
“This is testament to the hard work that Global Advisors’ principals… have put into evolving an institutionally robust offering,” he added.
The UK’s Channel Islands have given the green light to Global Advisors Bitcoin Investment Fund (GABI), marking the launch of the world’s first listed and regulated Bitcoin fund.
GABI, which has existed since 2014, is Global Advisors’ first product, the group later launching COINXBT and COINXBE, which both made pioneering debuts on the Swedish Nasdaq.
The fund was already the first regulated Bitcoin fund at its launch two years ago, with Masters adding that the new first was nonetheless a result of how far the product had come. He commented:
However, the race for the prowess of Bitcoin instruments is meanwhile far from over.
“Bitcoin now has a market capitalization of over $12.4 bln, an all-time high, with approximately 16 mln coins in issue. Bitcoin is the leading digital currency, ranking 73rd in the total amount in circulation on the global list of M1 forms of money.”
Bitcoin Had a Strange Week. Does It Matter?
Bitcoin was supposed to kill Western Union — that hasn't happened – Yahoo Finance
all 14 news articlesÂ Â»
Venezuela Blasts 'False' White Paper for Oil-Backed Cryptocurrency
Venezuela's government is pushing back against what it calls "false information" in connection with a purported white paper tied to its planned oil-backed cryptocurrency.
While the South American n
Prominent crypto critic calls bitcoin a ‘bubble’ and says go to Vegas if you want to gamble
Retailer Overstock mixed up bitcoin and bitcoin cash, letting customers buy items at a steep discount
A serious payment glitch on retail website Overstock.com, which sells everything from furniture to diamond rings, allowed customers to pay with either bitcoin or bitcoin cash interchangeably. It's a
OKCoin Eyes Cryptocurrency Exchange Launch in South Korea
Cryptocurrency exchange OKCoin is reportedly moving to launch in South Korea – possibly as soon as next month.
According to The Korea Times, the Beijing-based firm is eyeing a partnership with NHN
Bulgaria Joins 'International Operation' Against OneCoin
The Bulgarian Special Prosecutor's Office is involved in a wide-ranging, international investigation into companies and persons behind the digital currency investment scheme OneCoin, which has been wi
Report: India's Government Sends Tax Notices to Cryptocurrency Traders
India's government has reportedly sent tax notices to cryptocurrency traders and investors following a nationwide survey.
According to Reuters, a survey found that Indian citizens conducted more th