PANews reported on November 15 that according to Decrypt, Australian crypto fund management company DigitalX plans to position itself as the "flag bearer" of digital assets to prepare for the crypto industry's "mainstream moment" after major breakthroughs and global political shifts, especially in the United States. DigitalX said on Thursday that the company is significantly cutting operating costs, and annual costs will be reduced by $950,000 ($614,000) by restructuring the fund management team.
Meanwhile, its Bitcoin Fund has an annualized return of 99%, outperforming its competitors in multiple time periods, with returns of 12% in six months and 30% in three years. Its Digital Asset Fund has returned more than 526% over five years, despite a small drop of 2.1% last quarter, according to the company's latest shareholder update.
The company acknowledged that despite the solid performance, it still faces several challenges in raising managed capital, noting that the potential market of investors is relatively small compared with traditional investment products.
