- National Bank of Bahrain launches GCC’s first Bitcoin investment fund.
- The fund provides exposure to Bitcoin as a capital protection option to accredited investors.
- Bahrain ranks fifth globally in Bitcoin reserves, highlighting its cryptocurrency-friendly stance.
The National Bank of Bahrain (NBB) made headlines by launching a groundbreaking investment fund aimed at providing Bitcoin exposure to accredited investors.
The plan is the first Bitcoin-linked structured investment in the Gulf Cooperation Council (GCC) region, which includes countries such as Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
National Bank of Bahrain collaborates with APR Digital
In collaboration with APR Digital, the fund is designed to cater to the growing interest in digital assets, particularly Bitcoin.
We are proud to introduce this innovative product,” Hisham AlKurdi, CEO of NBB’s Market and Client Solutions Group, said in a press release. “We believe in the attractiveness of digital asset exposure and the security of capital protection.”
This move highlights the bank’s commitment to providing safe and diverse investment opportunities to its wealth management clients.
Driving Bitcoin Adoption in Bahrain
As Bitcoin continues to gain popularity globally, the launch of this fund will be a major boost to BTC adoption in Bahrain.
Currently, Vietnam ranks 5th in the world with the largest holdings of Bitcoin, with a portfolio of approximately 13,166 Bitcoins worth approximately $844 million.
Unlike some countries that acquire BTC primarily through seizures, Bahrain is actively accumulating cryptocurrencies, establishing itself as a leader in the digital asset space.
Additionally, the Central Bank of Bahrain (CBB) has implemented a clear legal framework to promote digital currency adoption.
Recently, CBB granted a payment service license to cryptocurrency exchange Crypto.com, allowing it to provide cryptocurrency services to Bahrain users, further solidifying Bahrain’s status as a cryptocurrency-friendly country.
With the introduction of the Bitcoin Investment Fund, the National Bank of Bahrain aims to capitalize on the growing potential of the cryptocurrency and provide clients with a unique way to diversify their portfolios in the evolving investment landscape.
As interest in digital assets continues to grow, Bahrain’s proactive approach is likely to spur further investment and innovation in the region.