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STOCKHOLM IT VENTURES AB ANNOUNCES UPDATE ON REVENUE OF HIGH-FREQUENCY TRADING
STOCKHOLM, SWEDEN (MARCH 20th, 2019) – Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB – ISIN SE 0006027546) today updates on its high-frequency trading activities.
Since the launch of our Crypto Asset Management Services (CAMS) in September 2018, the service of providing a managed return for Bitcoin holders through the Company’s proprietary high-frequency trading platform, Stockholm IT Ventures AB is pleased to update the market on the Companies trading results.
CAMS is concentrating primarily on managing investment portfolios of cryptocurrency and related assets through structures designed for investments by institutional investors, family offices and high-net-worth individuals. Additionally, the Company is continuously pursuing strategic investments in promising and carefully selected early-stage blockchain projects. CAMS offer an easy access for third parties seeking for a portfolio of cryptocurrency assets managed by highly-specialised managers, traders and analysts in the crypto space.
On January 1st 2019, 700 Bitcoins were invested and managed by our trading platform, generating a return on investment for the Bitcoin holders of about 5% and a revenue for Stockholm IT Ventures AB of approximately Euros 30,000 for January 2019.
In February 2019, the Company could increase the number of managed Bitcoins by 400, enabling to trade with a total of 1,100 Bitcoins for which the trading platform showed similar returns. During this month Stockholm IT Ventures AB generated ca. Euros 50.000 in revenue from this increased asset under management base.
The Company is currently in negotiations for the acquisition of a larger number of Bitcoins to be managed on the trading platform and aims to secure scalability of assets under management. Bert Scheen, CEO of Stockholm IT Ventures AB, aims to update on the Companies trading activities and related revenues in future.
About Stockholm IT Ventures AB
Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The Company specialises in clean and efficient low-cost energy cryptocurrency mining, production and related FinTech and Blockchain technologies. For more information visit www.stockholmit.co. You can also find the Company on Facebook, Twitter and LinkedIn.
Stockholm IT Ventures AB, Bert Scheen, firstname.lastname@example.org