DigitalX, a Perth-based blockchain startup, has announced the opening of a new fund in order to offer investors access to a portfolio of cryptocurrencies.

The fund, DigitalX Investments, will invest primarily in the leading cryptocurrencies, with a smaller allocation towards special trading opportunities including initial coin offerings (ICOs). Initially, it will have five permitted investments, including cryptocurrencies, ICOs, cash holdings, derivatives of cryptocurrencies, and managed investment schemes.

“DigitalX continues to aim to be a leading player in the crypto-asset space in Australia and has to date built extensive experience within its team managing crypto-assets and understanding the protocols behind different crypto-assets, including currencies and tokens. This initial small step into funds management can hopefully lead to a growth in our portfolio and strengthening of DigitalX’s ongoing revenue streams in this space” DigitalX Managing Director Leigh Travers said in a statement.

According to the press release, DigitalX will hold a 73 percent interest in DigitalX Funds Management Pty Ltd, which will be the Investment Advisor, and will seed the fund with approximately $750,000 from the company’s existing bitcoin and ethereum asset base .Tim Davies has been appointed Head of DigitalX Investments and Portfolio Manager of the Fund.

“The fund will also have risk protection limits in place to ensure, including that no individual investment may exceed 20% of the fund assets, except into Bitcoin or cash, at the time of investment. Part of the investment decision made by the fund will need to include confirmation on the legality or otherwise of any crypto-asset, including ICO tokens, in the jurisdiction in which those crypto-assets are issued or offered,” DigitalX explained.

The fund launch comes on the heels of the implementation of new Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) rules for digital currency exchange (DCE) providers by the Australian Transaction Reports and Analysis Centre (AUSTRAC) earlier this month.