CISE's bitcoin fund listing believed to be a world first

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A WORLD FIRST has been claimed by the Channel Islands Securities Exchange in listing a regulated bitcoin fund.

The CISE has approved the admission to listing of all of the redeemable participating no par value shares of the open-ended Global Advisors Bitcoin Investment Fund (Gabi), which is managed by Global Advisors (Jersey).

Gabi was launched in 2014 as the world's first regulated bitcoin fund when it received certification as an expert fund from the Jersey Financial Services Commission.

It is the first digital asset-related listing on the local exchange, joining more than 2,000 other listed securities on an exchange which now has a market capitalisation of more than £300bn.

One of the key people behind Global Advisers and Gabi, Daniel Masters, said it was the right time to list the bitcoin fund.

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