- Switzerland’s financial regulators approve the country’s first fund.
- This will be the first time a fund investing primarily in crypto assets is approved.
- The newly approved fund is restricted to qualified investors.
It’s all good on the Swiss side! The Switzerland authorities continue to grant more regulatory approvals for crypto investment. This time, the Swiss Financial Market Supervisory Authority (FINMA) announced it has approved the first crypto fund.
FINMA approved the Crypto Market Index Fund. Though, the fund is only limited to qualified investors. Also, the fund was classified under “other funds for alternative investments” that have particular risks.
FINMA asserts in a press release,
In order to facilitate serious innovation, FINMA applies the existing provisions of financial market laws in a consistently technology-neutral way,” it added, thus ensuring that new technologies are not used to circumvent existing rules.
This is the first time FINMA wi...