Switzerland’s Fin. Regulator Approves the First Crypto Fund

by in Cryptocurrency News

Switzerland crypto

On Sept. 29, Switzerland's regulatory Financial Market Supervisory Authority allowed the first Swiss crypto fund, investing essentially in digital assets. The issuer of the product named Crypto Market Index Fund is Crypto Finance, a Zurich-based firm providing crypto services such as asset managing and storing.

Related: More than 60% of institutionals are ready to invest in crypto

As stated in the post published by the company, the fund traces the SIX Swiss Exchanges’ crypto market index 10. It includes and measures BTC, Ether, and other crypto assets that are easily exchanged.

The fund is managed by fin. services firm PvB Pernet von Ballmoos. The custodian of the fund is SEBA Bank. The product belongs to the category of other funds for alternative investments with specific risks. Only qualified investors like wealth managers, and pension funds have access to the product.

While recently China announced taking stricter measures to regulate crypto, interest in crypto investments stays high.

Commenting on the news, the CEO at Crypto Finance, Bernadette Leuzinger stated that the product is meant to allow clients to diversify their portfolios and take part in the emerging asset category in a way that is secured and regulated.

Currently, the global crypto market cap stands at around $1.87 trillion. BTC trades at around $42.000 and Eth at $2.900.