Global Advisors Jersey Limited (GAJL) has secured regulatory approval from the Jersey Financial Services Commission (JFSC) for a Bitcoin Investment fund. 

The Global Advisors Bitcoin Investment Fund (GABI), which will launch on 1 August 2014, will operate within the Collective Investment Funds (Jersey) Law 1998 as an Expert Fund.
 
Daniel Masters, director of GAJL, says: “Global Advisors is thrilled to be able to bring a robust Bitcoin fund product to the market. Our long experience in commodities means we are well placed to manage volatility and performance risks in this fast growing and opportunistic asset class.
 
“Jersey, rightly prides itself on being among the top tier of jurisdictions when it comes to compliance and has proven many times that innovation in new financial products and the highest regulatory standards are not mutually exclusive. This is why we have chosen to domicile the Global Advisors Bitcoin Investment Fund in Jersey, to bring together the benefits of a secure environment with an exciting new technology.
 
“After a rigorous selection process we have chosen leading service providers Carey Olsen as legal advisers, led by James Mulholland, Moore Management as fund administrator, and Netagio and Elliptic as providers of custody services to strengthen and enhance our fund offering.
 
“We look forward to working with our service providers and colleagues who will be supporting GABI and helping Digital Jersey to cement Jersey’s fast growing reputation in the digital currency space.”