Key Takeaways
- • Standard Asset Company, operating through Standard Proprietary Company Ltd., opened its headquarters in Abu Dhabi Global Market to lead an anticipated $1.5 billion strategy pairing a Bitcoin reserve with UAE real estate acquisitions.
- • Coinbase Asset Management has been engaged as exclusive manager of the firm's Bitcoin holdings, led by president Anthony Bassili, a former BlackRock executive.
- • The $1.5 billion figure is a target, not deployed capital; the firm has not disclosed its Bitcoin holdings, planned purchases, real estate/digital asset split, or completed property deals.
- • The property side targets hospitality assets and branded residences for operating income and appreciation, while the Bitcoin side is a phased long-term reserve with a managed yield strategy.
- • Allocators will need clarity on leverage, counterparty exposure in the yield program, and how capital moves between the real estate and Bitcoin books.
Summary
Standard Proprietary Company Ltd., which operates as Standard Asset Company, has opened its headquarters in Abu Dhabi Global Market to lead an anticipated $1.5 billion strategy that combines a professionally managed Bitcoin reserve with the acquisition of UAE real estate, according to HedgeCo.Net. The firm has engaged Coinbase Asset Management as the exclusive manager of its Bitcoin holdings.
The real estate component targets hospitality assets and branded residences intended to generate operating income and appreciate over time. The Bitcoin component is described as a long-term reserve built through phased acquisition, with a managed yield strategy seeking additional income. The firm says it invests for its own account and describes a model in which property income, residence-sale proceeds and Bitcoin yield are reallocated across real estate, the Bitcoin reserve and corporate liquidity.
Coinbase Asset Management is led by president Anthony Bassili, a former BlackRock executive. Brett Tejpaul, co-CEO of Coinbase Institutional, called the UAE a critical hub for digital asset adoption. Standard Asset Company is led by co-founders Sakhib Waseem, Adam Ali and Mason Borda.
The $1.5 billion figure is a target rather than deployed capital. The firm has not disclosed how much Bitcoin it holds or plans to buy, the split between real estate and digital assets, or any completed property acquisitions. It also has not specified which instruments would be used to generate yield on Bitcoin, which does not pay income on its own.
The launch adds to a growing set of Gulf-based vehicles that treat Bitcoin as a treasury asset alongside hard assets, and to the list of mandates flowing to regulated managers for custody and execution. Allocators evaluating such structures will want clarity on leverage, counterparty exposure in the yield program and how capital moves between the two books.
The real estate component targets hospitality assets and branded residences intended to generate operating income and appreciate over time. The Bitcoin component is described as a long-term reserve built through phased acquisition, with a managed yield strategy seeking additional income. The firm says it invests for its own account and describes a model in which property income, residence-sale proceeds and Bitcoin yield are reallocated across real estate, the Bitcoin reserve and corporate liquidity.
Coinbase Asset Management is led by president Anthony Bassili, a former BlackRock executive. Brett Tejpaul, co-CEO of Coinbase Institutional, called the UAE a critical hub for digital asset adoption. Standard Asset Company is led by co-founders Sakhib Waseem, Adam Ali and Mason Borda.
The $1.5 billion figure is a target rather than deployed capital. The firm has not disclosed how much Bitcoin it holds or plans to buy, the split between real estate and digital assets, or any completed property acquisitions. It also has not specified which instruments would be used to generate yield on Bitcoin, which does not pay income on its own.
The launch adds to a growing set of Gulf-based vehicles that treat Bitcoin as a treasury asset alongside hard assets, and to the list of mandates flowing to regulated managers for custody and execution. Allocators evaluating such structures will want clarity on leverage, counterparty exposure in the yield program and how capital moves between the two books.
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