Société Générale now offers its services to professional investors wishing to create funds “based” on bitcoin and ethereum.
Bitcoin enters Societe Generale
SocGen notes in its communicated that “more and more investors want to integrate cryptocurrencies into their portfolios”.
To meet demand, the third largest French bank offers asset managers “to ensure the role of depositary of funds, valuer and manager of the liabilities”is it announced. “The first two products in the euro range are based on Bitcoin, Ether and Derivatives”.
The bank does not specify whether these are only derivative products, or whether it also offers a BTC custody service…
This new service has just been adopted by Arquant Capital. The fund has just opened a range of funds under French law in cryptocurrencies and actively managed.
“By combining the know-how of SGSS in terms of innovation and the technical skills of Arquant Capital, we are expanding our ability to meet the diversification needs of asset managers”says David Abitbol, Director of Societe Generale Securities Services.
Let’s wait to see what it really comes out before welcoming the news. Especially when we see JP Morgan, a bank of the same kind, repeating that Bitcoin is “a ponzi”.
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