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.