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As Mike Novogratz tries to bring some kind of institutional backing to the cryptoasset industry at one end of the market, at the other end, traders and speculators looking to make a quick buck continue to run riot.

The latest a high dubious offering comes from management company, SYMM, which has recently announced the launch of new a cryptocurrency investment fund, offering a uniquely new commission structure to investors.

Bitcoin dividends 

SYMM is launching the Symmetry Fund, which is the first crypto fund to offer buyback options for shareholders. According to the firm’s press release, the fund has been designed to “make it easy for individuals to invest in cryptocurrencies without all the effort, capital and risk involved with personal trading in the market.”

Here’s some more info on the offering:

“The SYMM fund invests in Bitcoin, Ethereum, Dash, Lite Coin and Ripple so offers a diversified portfolio for those looking for the safety of a traditional managed mutual fund, but still benefit from the gains being seen in the rising cryptocurrency markets, especially lucrative ICOs (Initial Coin Offerings).”

The fund will pay monthly dividends equivalent to 50% of trading profits in Ethereum with the remaining 50% reinvested and investors are able to pick up the buyback option at any time.

In order to mitigate volatility, the fund will keep 10% of its assets in flat currencies (US$/€). Management fees are “competitive” and charged on profits at 7.5% for investments over 100 ETH and 15% for under 100 ETH.

CME Contract 

So far, the bitcoin hedge fund world has been able to get away with almost no regulation but as bitcoin trading becomes more mainstream, it will attract regulators.

The CME Group is planning to launch a bitcoin futures contract, which will have to be approved by regulators. And when the contract is approved, there are many funds currently standing on the sidelines that would like to be involved.

Indeed, $100 billion hedge fund Man Group recently declared that it would be interested in trading bitcoin if or when the CME product hits the market. This would likely be the first of many entries into the market by mainstream hedge funds.

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