On November 21, Blockstream, a prominent provider of Bitcoin infrastructure technology, unveiled its new asset management division, as reported by CrowdFund Insider. The firm has appointed seasoned hedge fund professional Sean Bill as Chief Investment Officer, signaling a strategic shift to tap into the growing demand for cryptocurrency investment products. This division aims to launch two key offerings: a Bitcoin Yield Fund, akin to a Bitcoin money market fund, and a USD Yield Fund, which will derive returns through Bitcoin-collateralized loans. Blockstream’s CEO, Adam Back, highlighted the significance of this initiative amidst Bitcoin’s ascent to historic price levels and heightened interest from institutional investors.
Utilizing its robust Asset Management Platform (AMP), Blockstream plans to tokenize various assets on the Liquid Network, where the total value of Real World Assets (RWA) has surged to $1.8 billion, representing nearly 15% of the blockchain-based RWA market. These assets encompass stablecoins, securities, and US Treasury bonds. Newly appointed CIO Sean Bill emphasized his commitment to merging his financial acumen with Blockstream’s innovative Bitcoin technology, aiming to deliver cutting-edge products that satisfy evolving market needs, all while ensuring compliance with AML and KYC regulations to bolster Bitcoin’s position in mainstream investment strategies.
Source: https://en.coinotag.com/breakingnews/blockstream-launches-bitcoin-asset-management-division-with-former-hedge-fund-expert-sean-bill-as-cio/