FINMA, which oversees Switzerland’s financial markets, has approved for the first time a fund that will mainly invest in cryptocurrencies.
Crypto Market Index Fund mutual fund, mainly regulated by Swiss law. crypto asset will include the assets listed as
The term ‘crypto-asset’ covers assets based on blockchain or distributed ledger technology (DLT), according to Wednesday’s announcement.
Fund that only qualified investors can participate in, “other funds for alternative investments” evaluated in the category.
Due to the risks inherent in the related asset type, the mutual fund only enough trading volume cryptocurrencies and not only Member States of the Financial Action Task Force (FATF) will be able to invest through the platforms in one of them.
Organizations that provide management and custody services for the fund will be expected to comply with certain special conditions in reporting transactions and risk management.