DigitalX Limited (ASX: DCC, ‘DigitalX’ or ‘the Company’) is pleased to announce that the DigitalX Bitcoin Fund (ISIN: AU60BQC79571) has received an investment-grade research rating from well-known and respected investment research house, SQM Research. The investment-grade rating on the Company’s Bitcoin Fund represents a significant milestone in that it is the first research-rated digital asset fund in Australia.
– DigitalX Bitcoin Fund becomes the first digital asset fund in Australia to receive an investment-grade rating
– The Fund has been issued with an investment-grade rating after the review process by SQM Research, one of Australia’s most recognised and respected research houses
– The investment-grade rating opens additional distribution channels for wealth managers and financial advisors to offer the DigitalX Bitcoin Fund to their clients
– Represents a significant milestone for mainstream adoption of digital assets in the Australian investment and wealth management industry
As part of the research rating process, the Fund has been reviewed on a number of key principle areas including strategy, team, performance, governance and compliance, fees and expenses, liquidity, and risks. Following this external assessment of the Fund’s credentials, the investment-grade rating now provides institutional investors with increased confidence for investing in the Company’s Bitcoin Fund.
Traditionally, financial advisers require an investment grade rating before being able to add investment products to their approved products list (APL). The investment-grade rating opens additional distribution channels for the Company as advisers can now consider adding the DigitalX Bitcoin Fund to their APLs. According to a report prepared by Oliver Wyman titled “Future of Financial Advice” there are approximately 21,670 registered financial advisers overseeing approximately $962 billion in funds under advice.
Mr Matt Harry, the Company’s Head of Funds, commented: “After many months of hard work by the team, we are pleased to have secured an investment grade research rating for the DigitalX Bitcoin Fund. Not only is this a first in Australia but the rating will significantly improve our ability to access the relatively untapped financial adviser market by providing them with access to a market-leading product that is audited, titled, insured, and managed by a team with deep experience in digital asset markets.”
Acting Chief Operating Officer & Chief Financial Officer
Director, Financial Communications