Switzerland’s regulator approved the first crypto asset fund. It is aimed at qualified investors looking to diversify their portfolio.
Zurich-based Crypto Finance received approval for its crypto asset fund by Switzerland’s financial watchdog Finma, it said in a statement on Wednesday.
The passive investment fund, which tracks the SIX Swiss Exchanges’ crypto market index 10, is administered by PvB Pernet von Ballmoos and its custody lies with Seba bank. The crypto market index 10 contains and measures liquid crypto assets, such as bitcoin and Ether, as well as tokens.
Deutsche Boerse
The CEO of Crypto Finance's fund arm, Bernadette Leuzinger said: «The investment fund enables clients of innovative wealth and asset management firms to participate in this upcoming asset class and to further diversify their portfolio in a secure and regulated way,» in the press release.
Germany's Deutsche Boerse bought a majority stake in the four-year-old start-up in June.
