The National Bank of Bahrain has announced the launch of its maiden Bitcoin investment fund.
Details
- The fund is designed for accredited investors and institutions in the Middle East’s Gulf Cooperation Council [GCC]
- The Council is formed by Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates
- The fund has been created in partnership with digital asset firm ARP Digital
- The launch of the Bitcoin-based investment product is aligned with the bank’s strategy to enhance its product suite — especially for wealth management clients — by providing tailored solutions that balance growth potential with risk mitigation
Why should you pay attention?
- The product will offer investors exposure to Bitcoin gains capped at a preset threshold
- Investors will be 100% shielded from the downside losses
- Alongside the UAE, even Bahrain has been enticing crypto businesses owing to its innovation-friendly crypto and fintech ecosystem
- Executives of prominent crypto firms have time and again credited clear regulations that balance consumer protection with commercialization for making Bahrain an emerging hub
Who said what?
- Abdullah Kanoo, co-founder and co-CEO of ARP Digital said,
“This structured investment opens new doors for investors seeking a calculated approach to digital assets”
- He added,
“By leveraging our expertise in digital assets and NBB’s extensive reach in the financial sector, we have created a product that introduces Bitcoin exposure within a highly secure framework”
Zooming out
- Several crypto-based companies have been flocking to the Middle East, particularly the UAE, owing to the regulatory clarity and pro-crypto guidance for digital asset businesses
- As reported recently, Hashed became one of the latest crypto investment firms to have spread its wings to Abu Dhabi by tying up with the region’s global tech incubator Hub71
- Other prominent players like Binance, Coinbase, Laser Digital, and OKX have already established a base in this region
- In other fund-related news, Hamilton Lane became the first asset manager to roll out a fund on Solana
- The firm — which manages over $900 billion in assets — launched a private credit endowment on the aforementioned blockchain that investors can access Hamilton's Senior Credit Opportunities Fund [SCOPE]
