DNAトラッカーファンド - TCMデジタルアセットファンドへの投資：デジタル投資のための強固な構造を実現

Fund overview
The DNA Tracker fund was established in December 2020 and was made available to investors in February 2021. The Fund is an Australian domiciled and regulated fund with an industry standard Australian Unit Trust structure. Administration and cash custody are provided by iPlatforms, a subsidiary of iPartners, an Australian funds management and technology firm which specialises in raising and investing capital in alternative assets. The DNA Tracker Fund can only invest in securities in the Global Fund.

The Global Fund has a robust administration structure with separate custody, administration, and legal services providers and is audited by KPMG (see Appendix). The Global Fund is regulated by the Caymans Islands Monetary Authority. Most recent information is that the Global Fund has approximately USD50M funds invested (advice from DNA).

Why invest?
The Global Fund offers a more secure means of acquiring exposure to digital assets including crypto assets and currencies on a medium to long term investment horizon. The fund is managed and structured with separate institutional level custody, administration, and banking services. This is a clearly safer structure than a direct investment in crypto assets with the inherent risk of loss of private keys, exchange risk and transaction risk in a non-custodial situation. The fees charged are similar or less than competitors offering similar products in this complex space and the ability for investors to redeem monthly with no lock up period is superior to similar products. Investors may be concerned about diversification, fraud and administrative friction when directly investing in crypto. The Australian domiciled, DNA Tracker Fund provides access to the Global Fund via an Australian unit trust with similar institutional level administration structures and processes. This conduit provides a superior method of investing in this new and volatile asset class. The overall fee base remains competitive despite the added layer of Australian administration.

Conclusion
The DNA Tracker Fund offers an effective way for Australian wholesale investors to invest in crypto assets and currencies. The Global Fund is a quantitatively based means of tracking crypto market movement while managing liquidity and counterparty risk and offers an institutional grade investment vehicle.