Australian crypto fund manager DigitalX plans to position itself as a “flag bearer” for digital assets, preparing for what it sees as the crypto industry’s “mainstream moment” following major breakthroughs and global political shifts, particularly in the U.S.

DigitalX said Thursday it is undergoing significant cost reductions for its operations, cutting $950,000 (US$614,000) in annualized costs through restructuring its funds management team.

Its Bitcoin fund, meanwhile, has posted 99% in yearly gains, outpacing its rivals across multiple timeframes, showing 12% gains over six months and 30% over three years.

As for its Digital Asset Fund, returns of over 526% over five years were shown despite a slight decline of 2.1% in the past quarter, according to the company’s latest shareholder update.

Crypto has experienced significant year-to-date gains, with Bitcoin posting a 106% increase to $87,500. The industry’s profile has been bolstered by U.S. listings of spot Bitcoin and Ethereum exchange-traded funds and a Republican victory in the presidential race, viewed by many as clearing a path to definitive regulations impacting digital assets.

DigitalX offers two separate Bitcoin investment products: a Bitcoin Fund for wholesale investors and a Bitcoin ETF (BTXX) for retail investors, each designed to provide exposure to the asset through different structur

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Author: Vince Dioquino