Tokenised funds from CMCC Global opened for subscription on October 22, 2026, as the asset manager announced plans to issue digital units of its Crest Fund and Liberty Bitcoin Accumulation Fund through Bitfinex Securities. The offerings use Tether's Hadron platform and are set to become the first tokenised fund-of-funds offerings under El Salvador's digital-asset framework, CMCC Global said.
Key Takeaways
- Crest and Liberty Bitcoin Accumulation Fund will offer tokenised exposure to quantitative digital-asset strategies.
- BTCS S.A. has agreed to act as anchor investor and plans an undisclosed triple-digit bitcoin allocation.
- Subscriptions close on October 30, 2026; access remains subject to investor eligibility and compliance checks.
Table of Contents
- Tokenised funds move onto regulated infrastructure
- Two strategies with different return measures
- BTCS plans anchor investment ahead of launch
- Conclusion
Tokenised funds move onto regulated infrastructure
Hadron will provide the technology to launch, manage and track the tokens, while Bitfinex Securities will handle issuance, distribution and secondary trading. CMCC Global said Crest and Liberty Bitcoin Accumulation Fund would also be the first tokenised funds offered on the venue.
The tokens will represent participating shares in segregated portfolios of CMCC Global SPC in the Cayman Islands. They will be minted against the underlying shares and burned upon redemption, maintaining a one-to-one economic representation of the relevant fund interests.
Eligible holders will have access to round-the-clock secondary-market trading and may self-custody tokens at approved, whitelisted addresses. Know-your-customer and anti-money-laundering controls still apply: the digital format does not make the offerings unrestricted.
| Item | Details |
|---|---|
| CREST issue price | US$10 per token |
| LBAF issue price | 0.0001 BTC per token |
| Crest fund inception | March 2022 |
| Liberty Bitcoin Accumulation Fund inception | April 2025 |
Two strategies with different return measures
Crest is denominated in US dollars and seeks returns above US Treasury bill yields. Liberty Bitcoin Accumulation Fund measures performance in bitcoin and targets net annualised returns of 8–12% in bitcoin terms. These are investment objectives, not promised or realised returns.
Crest's quantitative fund-of-funds strategy involves selecting digital-asset managers rather than simply tracking a cryptocurrency. CMCC Global's fund documentation describes a diversified portfolio with a strong tilt toward market-neutral funds and identifies onchain analyst Willy Woo as a co-founder and manager.
Both offerings allocate across quantitative hedge-fund strategies, including funding-rate, cross-venue and volatility arbitrage, market making and decentralised finance. The key distinction for investors is the unit used to assess success: dollar returns relative to Treasury bills for Crest, versus growth in bitcoin holdings for Liberty Bitcoin Accumulation Fund.
BTCS plans anchor investment ahead of launch
BTCS S.A., a digital-asset treasury company listed in Warsaw and Frankfurt, has agreed to serve as anchor investor. It intends to allocate an undisclosed triple-digit bitcoin amount for the forthcoming launch through Bitfinex Securities; the announcement does not establish that the allocation has been completed.
BTCS chief executive Marlena Lipińska linked the proposed investment to the company's aim of earning additional bitcoin on its treasury holdings. She cited the fund's bitcoin-denominated return measure, professional management and tokenised-security format.
The minimum subscription is one token for either offering. That low unit threshold is separate from eligibility requirements and should not be read as universal access.
Conclusion
The next scheduled milestone is the subscription close on October 30, 2026. The announcement opens a route into tokenised fund interests, while issuance, the planned BTCS allocation and subsequent trading remain distinct from the subscription opening.
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