Cryptocurrencies

Wave’s whiskey fund secures listing on INX platform

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.

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.

For more news, guides and cryptocurrency analysis, click here.

Oliver Knight

Londoner ‘Ollie’ graduated from Birmingham City University with a journalism degree in 2016. He combines his writing with his love of crypto and blockchain here at Coin Rivet, saying “It disrupts well-established institutions (banks) while giving an avenue to the less fortunate to achieve financial freedom.” Like all true Londoners, his pet hate is… “People standing on the left-hand side of the escalators on the Tube!”.

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