The National Bank of Bahrain (NBB) has launched the first Bitcoin investment fund in the Gulf Cooperation Council (GCC) region in partnership with APR Digital.
Authorized investors will have access to the fund, providing exposure to Bitcoin and protecting fiat currencies from depreciation.
The NBB aims to expand its services for wealthy clients and sees the potential for Bitcoin to surpass all other currencies in value.
Bahrain ranks fifth among governments with the highest holdings of Bitcoin, with 13,166 BTC ($844 million) in its possession.