Summary:
- Launch: Halogen Capital introduces the world’s first Shariah-compliant cryptocurrency funds in Malaysia.
- Target Audience: Funds are designed for sophisticated investors, including high-net-worth individuals and institutions.
- Offerings: Includes Halogen Shariah Bitcoin Fund (HSBTCF), Halogen Shariah Ethereum Fund (HSETHF), and Halogen Shariah Crypto Titans Fund (HSCTF).
- Shariah Compliance: Endorsed by Amanie Advisors, adhering to Islamic finance principles.
Halogen Capital, a licensed digital asset fund manager in Malaysia, has launched the world’s first Shariah-compliant cryptocurrency funds. These innovative offerings are designed to provide sophisticated investors, including high-net-worth individuals and institutional investors, with compliant access to the burgeoning digital asset market through a unit trust structure.
The flagship funds include the Halogen Shariah Bitcoin Fund (HSBTCF), which offers exposure to physical spot Bitcoin, and the Halogen Shariah Ethereum Fund (HSETHF), which provides exposure to both physical spot and staked Ethereum. Both funds have been endorsed by Amanie Advisors, ensuring their adherence to Shariah law.
Additionally, the Halogen Shariah Crypto Titans Fund (HSCTF) invests in up to a dozen large-cap, Shariah-compliant crypto assets such as Bitcoin, Ethereum, Solana, and Ripple, utilizing an active rebalancing strategy. The firm also offers the Halogen Shariah Ringgit Income Fund (HSRIF), a MYR-denominated fixed income fund focusing on Islamic deposits and short-term Sukuk, aiming to exceed fixed deposit returns.
What is a Shariah-Compliant Fund?
Shariah-compliant funds are governed by Islamic law, adhering to principles that align with the ethical and moral codes of Islam. These funds exclude investments in sectors such as alcohol, pork products, pornography, gambling, military equipment, or weapons. They also feature an appointed Shariah board, undergo an annual Shariah audit, and purify certain types of income, such as interest, by donating them to charity.
The concept of Shariah-compliant funds has gained significant traction in recent years. According to a report by the Malaysia Islamic International Financial Center, global Islamic assets under management (AUM) reached $70.8 billion at the end of the first quarter of 2017, up from $47 billion in 2008. This growth reflects the increasing demand for investment products that align with Islamic principles and ethical standards.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
