{"id":243968,"date":"2019-12-11T08:07:51","date_gmt":"2019-12-11T13:07:51","guid":{"rendered":"http:\/\/insidebitcoins.com\/?p=243968"},"modified":"2024-06-06T19:17:44","modified_gmt":"2024-06-06T19:17:44","slug":"cmes-futures-used-to-track-bitcoin-price-for-french-fund-napoleon-am","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/cmes-futures-used-to-track-bitcoin-price-for-french-fund-napoleon-am","title":{"rendered":"CME\u2019s Futures Used To Track Bitcoin Price For French Fund, Napoleon AM"},"content":{"rendered":"<p>The France-based asset management firm, Napoleon AM, has recently <a href=\"https:\/\/www.theblockcrypto.com\/post\/50082\/another-bitcoin-fund-tied-to-cmes-cash-settled-futures-gets-launched\">launched<\/a> a new crypto fund. This fund is tied to the Chicago Mercantile Exchange, in particular its cash-settled Bitcoin Futures.<\/p>\n<h2><strong>Professional France-Only Trading<\/strong><\/h2>\n<p>The fund, aptly named the \u201cNapoleon Bitcoin Fund\u201d started its trading less than a week ago on the 6th of December. The fund itself is squarely aimed at professional investors, with a minimum buy-in of a whopping \u20ac100,000, or $110 000. These investors are further mandated by the prospectus to live in France, and there will be no cross-border trading allowed.<\/p>\n<p>The fund is the first released by Napoleon AM, who itself is the asset management wing of the Napoleon Group. Napoleon AM was officially licensed as an \u201cAlternative Investment Fund Manager\u201d back in May of 2019, according to the financial firm\u2019s website.<\/p>\n<h2><strong>Investment on Exposure<\/strong><\/h2>\n<p>Napoleon AM is one of the first France-based funds to make use of the CME\u2019s cash-settled Bitcoin futures in such a novel way. The perspective explains that instead of buying or holding Bitcoin outright, the fund makes use of exposure to the Bitcoin price movement.<\/p>\n<p><a href=\"http:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/03\/long-term-investment.jpg\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-217624\" src=\"http:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/03\/long-term-investment.jpg\" alt=\"\" width=\"549\" height=\"280\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/03\/long-term-investment.jpg 549w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/03\/long-term-investment-300x153.jpg 300w\" sizes=\"(max-width: 549px) 100vw, 549px\" \/><\/a><\/p>\n<p>With that in mind, the Fund trades in CME\u2019s Bitcoin futures. CME is currently the only holder of a regulated cash-settled bitcoin futures product within the US. Bakkt, CME\u2019s competitor who <a href=\"http:\/\/insidebitcoins.com\/news\/bakkt-rolls-out-bitcoin-options-and-cash-settled-futures-for-institutional-investors\/243787\">recently launched<\/a> its own form of cash-settled Bitcoin futures, is based in Singapore.<\/p>\n<p>Theoretically, Napoleon could also capitalize on Bakkt\u2019s new product as well. The fund\u2019s prospectus and investor factsheet have enough room to wiggle in some form of \u201csimilar[ly] organized exchange listing cash-settled BTC futures.\u201d<\/p>\n<h2><strong>Trailblazers of Alternative Investments<\/strong><\/h2>\n<p>Sergio Gonzales, the Communications Director of Napoleon AM, explained that his company had paved the way for an alternative in the novel application of futures. With this, Gonzales explains that Napoleon can maintain access to the best possible sources in the future as well as optimize proper replication.<\/p>\n<p>Napoleon AM\u2019s president, St\u00e9phane Ifrah, told the press that the fund in question is a product of many discussions with France\u2019s regulating bodies. They expressed their pride with it comes to Napoleon\u2019s contribution to \u201cinstitutionalization and democratization of digital assets\u201d through the company\u2019s new use of futures. The ability to produce this unique form of a fund is attributed to the French Law, according to Ifrah.<\/p>\n<p>Whether or not this new form of investment proves popular with the French-only pool of investors remains to be seen. It\u2019s undoubtedly a unique take on investment, but its effectiveness remains to be seen.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">The France-based asset management firm, Napoleon AM, has recently launched a new crypto fund. This fund is tied to the Chicago Mercantile Exchange, in particular <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/cmes-futures-used-to-track-bitcoin-price-for-french-fund-napoleon-am\" title=\"CME\u2019s Futures Used To Track Bitcoin Price For French Fund, Napoleon AM\">[&#8230;]<\/a><\/div>","protected":false},"author":1717,"featured_media":242938,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[734,8117,10010,7893],"class_list":["post-243968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-cme","tag-napoleon","tag-trading"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CME\u2019s Futures Used To Track Bitcoin 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