Elwood Asset Management, which manages his personal crypto assets, is currently working on a platform aimed at creating portfolios of crypto funds – a fund of funds – aimed at institutional investors.

Bin Ren, Elwood chief executive, told the Financial Times that the objective of the plan was to take a more selective approach to crypto assets and in doing so avoid blow-ups and provide a higher standard of governance for investors.

“Losing traditional assets in the real world is hard,” said Mr Ren.

“In the digital world, it’s very easy to lose assets - put in the wrong address for a bitcoin transfer and it’s gone forever,” he added.

Mr Ren said that Elwood had identified 50 funds that would satisfy its due diligence standards. Investors would pay a fee for the service and to access the underlying funds.

Elwood also launched a blockchain-focused exchange traded fund earlier this year on the London Stock Exchange, in partnership with fund manager Invesco.