{"id":12661,"date":"2021-09-29T15:54:04","date_gmt":"2021-09-29T15:54:04","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/swiss-regulator-approves-first-crypto-fund-asset-manager-says-its-an-exceptional-achievement\/"},"modified":"2021-09-29T15:54:04","modified_gmt":"2021-09-29T15:54:04","slug":"swiss-regulator-approves-first-crypto-fund-asset-manager-says-its-an-exceptional-achievement","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/swiss-regulator-approves-first-crypto-fund-asset-manager-says-its-an-exceptional-achievement\/","title":{"rendered":"Swiss Regulator Approves First Crypto Fund: Asset Manager Says \u2018It\u2019s an Exceptional Achievement\u2019"},"content":{"rendered":"

Switzerland\u2019s 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. \u201cFor the first time, FINMA has approved a Swiss fund that invests primarily in cryptoassets,\u201d said the regulator.<\/strong><\/p>\n

First Crypto Fund Approved Under Swiss Laws<\/h2>\n

The Swiss Financial Market Supervisory Authority (FINMA) announced Wednesday that it \u201chas approved the first crypto fund according to Swiss law.\u201d The regulator elaborated:<\/p>\n

For the first time, FINMA has approved a Swiss fund that invests primarily in cryptoassets.<\/p>\n

FINMA explained that the fund is called \u201cCrypto Market Index Fund,\u201d noting that it is \u201can investment fund according to Swiss law belonging to the category \u2018other funds for alternative investments\u2019 with particular risks.\u201d<\/p>\n

The financial regulator added that there are some requirements tied to the approval. For example, the fund \u201cmay only invest in established cryptoassets with a sufficiently large trading volume.\u201d In addition, the investments must be made through \u201cestablished counterparties and platforms\u201d based in member countries of the Financial Action Task Force (FATF).<\/p>\n

Crypto Finance (Asset Management) AG independently announced Wednesday the launch of the FINMA-approved Swiss crypto fund. It is administered by fund management company Pvb Pernet von Ballmoos AG, with Seba Bank AG as the custodian and Crypto Finance as the manager. Crypto Finance described:<\/p>\n

For Crypto Finance, as the first asset manager to launch a Swiss crypto asset investment fund, it is an exceptional achievement to launch this crypto investment fund together with strong Swiss partners.<\/p>\n

The fund is restricted to qualified investors, such as Swiss wealth management banks, asset managers, pension funds, and other professional investors, \u201cwho collectively manage several trillion CHF in assets,\u201d Crypto Finance detailed, adding:<\/p>\n

This passive investment fund from Crypto Finance tracks the performance of the Crypto Market Index 10, which is administered by the SIX Swiss Exchange.<\/p>\n

According to the exchange\u2019s website, \u201cThe objective of the SIX Crypto Market Index 10 is to reliably measure the performance of the largest and most liquid crypto assets and tokens and provide an investable benchmark for this asset class. The prices for the crypto assets and tokens are obtained from multiple crypto exchanges and trading venues.\u201d<\/p>\n

Meanwhile, Seba Bank announced Tuesday that it \u201chas been granted a license to act as a custodian bank for Swiss collective investment schemes pursuant to Art. 72 CISA (KAG).\u201d The bank added, \u201cThis is the first license granted in Switzerland by the Swiss Financial Market Authority (FINMA) to a custodian bank focused on digital assets.\u201d<\/p>\n

What do you think about FINMA approving the first Swiss crypto fund? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, crypto finance, finma, finma approves crypto fund, SEBA Bank, swiss crypto fund, swiss cryptocurrency fund, switzerland crypto fund<\/p>\n","protected":false},"excerpt":{"rendered":"

Switzerland\u2019s 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. \u201cFor the first time, FINMA has approved a Swiss fund that invests primarily in cryptoassets,\u201d said the regulator. First Crypto Fund Approved Under Swiss Laws The Swiss Financial Market…<\/p>\n","protected":false},"author":0,"featured_media":12662,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12661"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12661"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12662"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}