Wave BTC Income Fund Launched
A Los Angeles company Wave Financial has launched Wave BTC income fund, which is positioned as “the first crypto-derivative fund on the market”. Wave Financial managing partner Ben Cai noted that the cryptocurrency market lacks traditional products that combine with digital assets. The idea is to cover part of the new market for profitable products in the cryptocurrency space. Wave fund plans to receive a monthly income with a premium on the options with shares sale 20% higher than the current value. It aims to distribute dividends, which make up 1.5% of the value of net Bitcoin assets. In fact, the annual yield should reach 18%. At the moment, the new fund is already open for customers, though there have been no investors who would like to invest here so far. Note that the Eaton Vance fund offers a similar product.