Swiss Regulator Approves First Crypto Fund: Asset Manager Says ‘It’s an Excep...

Swiss Regulator Approves First Crypto Fund: Asset Manager Says ‘It’s an Excep...

Switzerland’s Financial Market Supervisory Authority (FINMA) has approved the first Swiss crypto fund. It is managed by asset manager Crypto Finance and custodied by Seba Bank. “For the first time, FINMA has approved a Swiss fund that invests primarily in cryptoassets,” said the regulator. First Crypto Fund Approved Under Swiss Laws The Swiss Financial Market Supervisory Authority (FINMA) announced Wednesday that it “has approved the first crypto fund according to Swiss law.” The regulator elaborated: For the first time, FINMA has approved a Swiss fund....


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First cryptocurrency fund approved in Switzerland

The fund tracks the performance of the 10 largest cryptocurrencies from SIX Swiss Exchange’s Crypto Market Index 10. Cryptocurrency adoption continues gaining momentum in Switzerland as local financial authorities grant more regulatory approvals for crypto investment instruments.The Swiss Financial Market Supervisory Authority (FINMA) has approved the Crypto Market Index Fund as the “first crypto fund according to Swiss law,” the authority officially announced Sept. 29.The fund is launched by Swiss asset manager Crypto Finance and is administered by investment management firm PvB Pernet....

Malta financial watchdog approves Iconic's crypto index fund for stock market...

Iconic Funds claims its index fund will be Europe’s first with direct exposure to crypto assets listed on a regulated market. The Malta Financial Services Authority has greenlit the crypto asset index fund from asset manager Iconic Funds for listing on the Malta Stock Exchange.In an Wednesday announcement, Iconic Funds said it expected to list its BITA20 XA Crypto Asset Index Fund on the exchange “in the coming days,” with the fund offering direct exposure to cryptocurrencies. The fund invests most of its capital in the top 20 cryptocurrencies in addition to depositing tokens into certain....

Swiss Pension Fund Manager was Refused to Withdraw Money to Save it from Negative Interest Rates

Switzerland - a land of economic freedom. Or so you thought. A Swiss pension fund manager recently found out otherwise. Peter Tenebrarum, an independent analyst and economist/social theorist, recently drew attention on his website, acting-man.com, to a situation in Switzerland that has alarmed people who are concerned about economic freedom and the power of central banks. Tenebrarum's essay, "The 'War on Cash' Migrates to Switzerland," examines the experience of a Swiss pension fund manager who learned a hard lesson about negative interest rates. The essay has been posted on David....

New York Approves Its First Publicly Available Japanese Yen Stablecoin

The New York State Department of Financial Services, the Bitlicense regulator, has authorized GMO to issue U.S. dollar and Japanese yen-pegged stablecoins. The latter “will be the first of its kind available to the public.” To date, the regulator has given out 27 charters and licenses for companies engaged in crypto activities. First Regulated Yen Stablecoin Approved in NY The New York State Department of Financial Services (DFS) has granted a charter under New York Banking Law to GMO-z.com Trust Company Inc., a subsidiary of the Japanese giant GMO Internet. This enables the....

French fund manager launches EU-regulated ETF that tracks Bitcoin price

France’s securities regulator approves: The Bitcoin-tracking fund fully complies with the European Union’s UCITS standards. Paris-based derivatives fund manager Melanion Capital has launched a new, European Union-regulated fund that aims to track the price of Bitcoin (BTC) at a correlation of up to 90%.The fund is the first of its kind to be issued under the EU’s investment fund umbrella UCITS — an acronym for “undertakings for the collective investment in transferable securities.” According to the European Commission’s data, UCITS-compliant funds account for roughly 75% of all collective....