Japan’s largest investment bank, Nomura Holdings, is launching an Ethereum-based fund for institutional investors through its digital assets subsidiary Laser Digital Asset Management, according to a Nov. 9 press release.
The “Laser Digital Ethereum Adoption Fund SP” fund marks the second installment in a series of digital adoption investment solutions introduced by Laser Digital following the launch of the Laser Digital Bitcoin Adoption Fund in September.
Ethereum Adoption Fund
The new fund will primarily target long-only spot positions in Ethereum. It enhances yield through an innovative strategy that involves staking the ETH held by the fund. The fund is managed as a segregated portfolio within Laser Digital Funds SPC, a segregated portfolio company registered in the Cayman Islands.
Laser Digital has partnered with Komainu as custodian for the fund’s assets. The company also serves as the custodian for Laser Digital’s Bitcoin fund. Komainu is regulated under the U.K. Financial Conduct Authority and the Virtual Asset Regulatory Authority in Dubai.
Laser Digital Asset Management head and former Nomura Chief Scientist Officer Sebastian Guglietta said the company views Ethereum as the technological catalyst that will digitize the economy. He added that in the long run, exposure to Ethereum is crucial to capturing the structural technology trend of the web 3 economy.
Meanwhile, Laser Digital Asset Management head of distribution Fiona King said the fund will simplify investing in digital assets and provide a secure way for institutional investors to gain exposure to the industry as it is fully regulated.
ETH spikes amid positive news
Beyond the Nomura announcement, documents surfaced on Nov. 9 showing that BlackRock has registered an Ethereum-based exchange-traded fund (ETF) in the state of Delaware on the same day.
The ETF was registered under the name iShares Ethereum Trust. BlackRock similarly filed its Bitcoin ETF a week before applying with the SEC.
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