CMCC Global is launching blockchain-based tokens representing interests in two of its investment funds registered in the Cayman Islands.
The Crest Fund and Liberty Bitcoin Accumulation Fund (LBAF) will become the first tokenised fund-of-funds offerings issued under El Salvador’s legal framework for digital assets, the blockchain asset manager said.
Both funds are segregated portfolios of CMCC Global SPC in the Cayman Islands.
The tokens will be issued through Bitfinex Securities El Salvador, a regulated platform for raising capital and trading tokenised securities.
The offering will use Hadron by Tether, a tokenisation platform developed by the company behind the USDT stablecoin.
Crest and LBAF will be the first tokenised funds offered on Bitfinex Securities.
The launch allows interests in Cayman fund portfolios to be represented digitally while remaining subject to know-your-customer and anti-money laundering controls.
The tokens will be issued at US$10 per CREST token and 0.0001 bitcoin per LBAF token, with a minimum investment of one token.
Each token represents the corresponding fund interest on a 1:1 economic basis, with tokens minted against underlying participating shares and burned upon redemption.
Eligible holders will have access to secondary-market trading around the clock through Bitfinex Securities, as well as self-custody options using approved, whitelisted addresses.
“Tokenisation represents the biggest transformation to financial services in a generation,” Martin Baumann, co-founder and managing partner of CMCC Global, said in a press release on 22 October.
“Every asset that can be tokenised will be tokenised. Stablecoins and Treasuries proved the model at a scale of hundreds of billions of dollars. Now it’s time for investment funds, and CMCC Global is leading the charge.”
The two funds pursue different return objectives.
Crest is denominated in US dollars and seeks returns above US Treasury bill yields, while LBAF targets net annualised returns of 8% to 12% measured in bitcoin.
Both are multi-manager quantitative hedge funds investing in market-neutral digital asset strategies, including funding-rate, cross-venue and volatility arbitrage, market making and decentralised finance.
Crest launched in March 2022 and was co-founded by onchain analyst and investor Willy Woo, while LBAF began in April 2025.
BTCS SA, a digital asset treasury company listed in Warsaw and Frankfurt, has agreed to act as anchor investor. It intends to commit an undisclosed amount of bitcoin in the triple digits to the offerings.
The subscription period for both offerings is open, with eligible investors able to participate in the initial public offering until 30 October.
