Blockstream, a Bitcoin infrastructure company, has announced Sean Bill as its new Chief Investment Officer (CIO).
Montreal, QC, Nov. 19, 2024.
We’re thrilled to welcome Sean Bill (@macrocrunch) as our Chief Investment Officer to lead Blockstream’s new Asset Management Division.
— Blockstream (@Blockstream) November 19, 2024
The announcement marks the launch of the company's Asset Management Division, which aims to develop Bitcoin-based financial products targeting institutional investors.
The move comes as Bitcoin continues to gain traction among institutional players. The new division will focus on creating investment products that leverage Blockstream's existing technology, including its Liquid Network—a Bitcoin sidechain used for tokenizing assets.
Two products under development include a Bitcoin yield fund, which would operate similarly to a money market fund for Bitcoin holders, and a USD yield fund that uses Bitcoin-backed loans to generate returns.
Both are designed to address the growing demand for yield-generating Bitcoin-based investments.
Blockstream plans to use its Asset Management Platform (AMP) to tokenize these products on the Liquid Network.
The platform incorporates features like whitelisted asset issuance and compliance with anti-money laundering (AML) and know-your-customer (KYC) requirements.
The Liquid Network currently holds over $2 billion in tokenized assets, including stablecoins and U.S. Treasury bills, representing a notable share of blockchain-based real-world assets.
Sean Bill, a seasoned financial expert, brings extensive experience from his previous roles as a hedge fund manager and public pension fund officer.
Recognized for his expertise in institutional investments and his advocacy for Bitcoin adoption, Bill's role at Blockstream will focus on integrating Bitcoin technology into institutional financial strategies.