Castle Analytics LLC (“Castle”), a California-based manager of digital asset funds, announced the launch of a proprietary index fund that provides exposure to Bitcoin, Ethereum, and other cryptocurrencies available within an Insurance Dedicated Fund (IDF).
Castle has created the Castle Digital Asset Index Fund IDF, LLC (IDF), and is partnering with an A Rated multinational life insurance carrier, to offer a private placement variable annuity product that uses an index strategy to provide accredited investors and Qualified Purchasers an opportunity to invest in the emerging asset class.
The IDF seeks to track the performance of a proprietary Castle Index throughinvestments in the five largest digital assets, as measured by market capitalization, meeting the Index’s inclusion criteria. To ensure diversification, the weighting of any single asset in the portfolio is capped at 35%.
“Castle was founded to offer digital asset investments to the market which are secure, independently verifiable, and work with existing financial vehicles such as self-directed IRAs and personal holding companies. The IDF is an additional access path for investors who are seeking tax- and cost-efficient ways to access these markets, and their portfolio diversification benefits, over a longer term,” said Peter Eberle, President and CIO of Castle.
This product will allow investment advisors and insurance professionals, on behalf of their clients, to allocate a portion of their portfolio within a variable annuity product to digital assets, providing greater opportunity for diversification, while minimizing token- or technology-specific risks through the use of the Index.
About Castle Funds
Castle Analytics LLC and its subsidiaries (collectively, “Castle Funds”) have been managing private funds invested in digital currencies since 2017. The firm’s integrated platform provides a secure and compliant solution for adding digital currency exposure to a well-balanced portfolio. Castle’s investment and technology teams are selectively comprised of senior-level professionals from firms such as Goldman Sachs, BlackRock, SLK-Hull Derivatives, Samsung, and Wells Fargo. Castle is one of the first digital currency investment managers to offer a digital asset investment strategy for privately placed insurance products.
Source: Castle Analytics LLC
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