As the first active trading and investment fund devoted to Ordinals-related assets, the Unbroken Chain fund has successfully piqued the interest of institutional investors. Spearheaded by L. Asher Corson, a portfolio manager from Consolidated Trading, the fund has already established noteworthy alliances and is set to secure $5 million from limited partners.
Specialization in Diverse Ordinal Types
The unprecedented Ordinals trading fund will focus on an array of Ordinal types, including BRC-20 tokens, exclusive sats, and inscriptions. This development signifies a crucial shift for Ordinals, moving them from specialized ventures to a recognized asset class. The fund's general partners include influential figures such as Domo, the innovator of the BRC-20 token standard, UTXO Management from BTC Inc., and Isabel Foxen Duke, who previously served as the communications director for Ordinals creator Casey Rodarmor.
Institutional Interest in Ordinals as a Standalone Asset Class
Domo, the pioneer of the BRC-20 token standard, showed enthusiasm for the burgeoning institutional interest in Ordinals. He said, "The increasing institutional interest in Ordinals as a separate asset class, rather than a unique venture capital opportunity, is highly encouraging."
Initial Investments Stir the Ordinals Market
The Unbroken Chain fund has already influenced the Ordinals market with its initial investments. The fund notably purchased the Bitcoin Rock, sold for 3 BTC on September 21, 2023, marking a significant event as it was the first Bitcoin Rock purchase since March 7th. This event drew considerable interest from the Ordinals community.
Increased Institutional Involvement in Ordinals
Rocktoshi, the founder of Bitcoin Rocks, shared a marked image of the fund's announcement, stating, "The institutions are coming." David Bailey, UTXO Management investor and CEO of BTC Inc., expressed his enthusiasm, claiming, "We are delighted to pave the way for institutional investment directly into Ordinals assets."
Confidence in the Potential of Ordinals
The fund's goal to raise $5 million from limited partners reflects the confidence that investors have in the potential of Ordinals. With initial contributions already amounting to $1.5 million, it is clear that there is a robust demand for exposure to this emerging asset class.
CFTC
law.cornell.edu
- 7 U.S. Code SS7 – Designation of boards for trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement account
irs.gov
bbb.org
How To
Investing in gold or stocks
Gold investing as an investment vehicle can seem extremely risky these days. This is because many people believe gold is no longer financially profitable. This belief arises because most people believe that the global economy is driving down gold prices. They believe they would lose their money if they invested gold. However, investing in gold can still provide significant benefits. Below are some of them.
Gold is the oldest known form of currency. There are thousands of records that show gold was used over the years. It has been used as a store for value by people all over the globe. It’s still used by countries like South Africa as a method of payment.
When deciding whether to invest in gold, the first thing you need to do is to decide what price per gram you are willing to pay. The first thing you should do when considering buying gold bullion is to decide how much you will spend per gram. You can always ask a local jeweler what the current market rate is if you don’t have it.
It’s worth noting, however, that while gold prices have fallen recently the cost of producing gold is on the rise. So while the price of gold has declined, production costs haven’t changed.
When deciding whether to buy gold, another thing to consider is how much gold you intend on buying. If you plan to buy enough gold to cover your wedding rings then it is probably a good idea to wait before buying any more. But, if your goal is to make long-term investments in gold, this might be worth considering. If you sell your gold for more than you paid, you can make a profit.
We hope this article helped you to gain a better appreciation of gold as a tool for investment. Before making any investment decisions, we strongly advise that you thoroughly research all options. Only after you have done this can you make an informed choice.
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By: Bitcoin Magazine
Title: Groundbreaking Ordinals Investment Fund Garners Attention from Institutional Investors
Sourced From: bitcoinmagazine.com/markets/inaugural-bitcoin-ordinals-trading-fund-attracts-institutional-interest-as-it-goes-live
Published Date: Tue, 17 Oct 2023 15:30:00 GMT
