Melbourne’s billionaire Smorgon family has poured money into a new investment fund from crypto specialist wealth management firm Zerocap, which plans to offer ways for investors to bypass bitcoin’s extreme volatility.
The so-called smart beta fund has so far banked $20 million of its $100 million target, and marks the entrance of traditional structured investment products to crypto markets in Australia, as volatility worldwide hits record levels.
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
