Halogen Capital has officially launched its Halogen Shariah Bitcoin Fund, becoming Malaysia’s first licensed digital asset fund manager to provide investors exposure to crypto assets in a Shariah compliant manner.
The company, licensed by the Securities Commission Malaysia, was soft launched in July by fintech company Jirnexu.
Launched in 2012 as a comparison website for financial products, Jirnexu (after a rebranding exercise) expanded its remit and is part of the KAF Investment-led consortium which won an Islamic digital bank license from Bank Negara Malaysia.
While it does not explicitly present itself as an Islamic asset manager, its entire portfolio is entirely Shariah compliant. It has announced three funds so far: the Halogen Shariah Bitcoin Fund; the Halogen Shariah Ringgit Income Fund, which commenced on the 20th July; and the Halogen Shariah Ethereum Fund, which has yet to be officially launched.
According to Founder and CEO Hann Liew, Halogen also intends to introduce exchange-traded funds “soon”.
Minimum investment for the Halogen Shariah Bitcoin Fund, which launched on the 23rd August, has been set at RM10,000 (US$2,147.94).
“It’s the world’s first Shariah compliant fund that provides institutional-quality exposure to physical spot Bitcoin,” according to Halogen Capital.
The fund’s Shariah compliance was endorsed by Amanie Advisors.