STOCKHOLM, Sept. 19, 2018 /PRNewswire/ -- Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB )- (ISIN SE 0006027546), a Swedish company specialising in clean and efficient low-cost energy cryptocurrency mining/production and related FinTech and blockchain technologies today announced the launch of its new Crypto Asset Management Services ("CAMS").
CAMS is concentrating primarily on managing investment portfolios of cryptocurrency and related assets through structures designed for investment by institutional investors, family offices and high-net-worth individuals. In addition, the intention is to pursue strategic investments in promising and carefully selected early-stage blockchain projects. CAMS offer ease of access for qualified high-net-worth individuals and institutions seeking exposure to a portfolio of cryptocurrency assets managed by highly-specialised managers, traders and analysts in the crypto space.
CAMS provide exposure to crypto assets through a single investment, eliminating the hassle of maintaining multiple public and private keys, wallets, exchange accounts. CAMS offer multiple fund investment strategies and believe in providing a high level of transparency to investors and deliver monthly statements to each investor.
CAMS has been under development by the Company for more than eighteen months and uses proprietary strategies and black box technologies created by its subsidiary BTT Sweden AB. CAMS has been in sandbox mode until recently when it went live using Company funds. High-frequency trading executed this month, including reinvested gains, indicates daily net returns of 1.0% to 1.5% and simulations show that assets under management is currently securely scalable to USD 50 million. The Company aims to secure scalability for USD 500 million assets under management within six months and investment portfolio commissions and fees are in line with traditional hedge funds.
Mr Anthony Norman, CEO of Stockholm IT Ventures AB commented: "This is an incredibly exciting new market. Cryptocurrency is fast establishing itself as a mainstream asset class and we are extremely excited about entering this new and highly profitable sector. With current liquidity in cryptocurrencies of about USD 10 billion a day in 1,600 cryptocurrencies and about USD 1 billion going in and out of traditional currencies, this market is very much alive contrary to recent concerns over cryptocurrencies and price fluctuations.
Mr Norman continued: CAMS unique algorithm gives us the opportunity to benefit from the extreme volatility in crypto trading. It allows us to guarantee a 1-1.5% return per trading day. In other words, we are as happy with price increases as we are with decreases in the market. The important thing is that they do not stand still. Percentage fluctuations in equity and FX trading are usually only a percent or so per day while with cryptocurrencies 10% fluctuations are not uncommon. We expect the price volatility in cryptocurrencies to remain volatile for the foreseeable future. In addition, the latest estimate of the number of crypto funds is 370, with USD 8 - 10 billion in assets under management, and we believe the long-term positive impact of the number of institutional players entering cryptocurrency investment is more important than short-term price fluctuations."
Mr Norman concluded: "We are focused on building a scalable, industry standard investment product for investors. We have gone for good fund administrators and have separated front and back office functions. We also use third-party bank custodians for traditional currencies. It's a slightly counter intuitive approach, one not adopted by every crypto fund, as part of the point is to be at a place where you don't need a third party to be involved, but in order to attract traditional money you have to have good governance."
About Stockholm IT Ventures AB
Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The Company specialises in clean and efficient low-cost energy cryptocurrency mining, production and related FinTech and Blockchain technologies. For more information visit www.stockholmit.co. You can also find the Company on Facebook, Twitter and LinkedIn. Details on the Company's Bytemine (BYTM) token and White Paper can be found at www.bytemine.io.
Stockholm IT Ventures AB, Fredrik Waijnstad, firstname.lastname@example.org
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SOURCE Stockholm IT Ventures