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ADDX, Trovio Capital Management
Private market exchange ADDX has launched its first cryptocurrency product, with the listing of a digital asset fund by investment manager Trovio Capital Management.

The fund aims to provide accredited investors with a crypto investing option.

The TCM Digital Asset Fund takes a diversified approach to crypto investing. On top of core positions in bitcoin and Ethereum, the fund invests in a set of seven other cryptocurrencies that are identified and reviewed regularly through a proprietary method of quantitative analysis. The fund recorded a net return of 215 per cent in 2020 and 205 per cent in the first ten months of 2021, ADDX said in a statement. 

The fund has an independent administrator, auditor and custodian and is audited by KPMG. Custody and trading services are provided by the Nasdaq-listed Coinbase. 

Investors on the ADDX platform can subscribe to or redeem units each month with the fund manager. The fund’s minimum investment is $10,000.

Founded in 2017, the Australia-based Trovio Group is led by bankers Jon Deane and Bob Tucker. Trovio CEO Jon Deane has more than 15 years of experience managing risk positions for investment banks, including JP Morgan and UBS. He was managing director and head of Asia commodities trading at JP Morgan from 2014 to 2018. 

ADDX, previously known as iSTOX, is a full-service capital markets platform with Monetary Authority of Singapore (MAS) licences for the issuance, custody, and secondary trading of digital securities. The organisation was launched in 2017.