Wave Financial Group has signed a Letter of Intent to list its Kentucky Whiskey 2020 (WKW20) Digital Fund on INX’s regulated security and crypto platform.
This will be one of multiple venues that will allow investors to buy and sell holdings in the fund via a tokenised listing.
Coin Rivet reported on the inception of Wave Financial Group’s whiskey fund earlier this year when it purchased 1,000 barrels from the Wilderness Trail distillery.
As a result of increased demand coupled with a surge in cryptocurrency prices, Wave has continued its acquisition of bourbon whiskey barrels with another order set to be produced by the end of the year.
We are excited to announce that our Wave Kentucky Whiskey Digital Asset Fund won
The Best of Class Asset-Backed by TADS AWARDS (Tokenized Assets & Digitized Securities Awards) https://t.co/mz4OFHubKD#assetbackedtoken #digitalassetfund #kentuckywhiskey #wavefinancial pic.twitter.com/GYPBFm4eWp— Wave Digital Assets (@wavedigital_) November 19, 2020
Investments in the fund currently cannot be sold for the first year, which means the value of the fund will naturally rise as the whiskey continues to age.
Wave estimate that over the course of five years the fund could deliver significant returns as the value of a single barrel of Kentucky whiskey is expected to increase by between 300% and 500%.
The announcement from Wave comes fresh after it won the award for “Best of Class, Asset-Backed Token” at the inaugural Tokenised Assets and Digital Securities (TADS) Awards at Hong Kong Blockchain Week.
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