Swiss Fintech Launches Country’s First Regulated Crypto Asset Fund
Swiss financial watchdog Finma has approved the launch of a cryptoasset fund by local fintech Crypto Finance.
Crypto Finance said that the vehicle will be Switzerland’s first cryptoasset fund, enabling institutional and professional investors to invest with the company and its two partners.
“The all-Swiss venture includes partners PvB, administering the fund, and SEBA Bank, providing custody for the fund,” the company said.
The passive investment fund tracks the performance of the Crypto Market Index 10 which is administered by the Zurich-based SIX Swiss Exchange. The index follows and measures the performance of the world’s top 10 cryptoassets by market capitalization.
“The investment fund enables clients of innovative wealth and asset management firms to participate in this upcoming asset class and to further diversify their portfolio in a secure and regulated way,” Bernadette Leuzinger, CEO of Asset Management at Crypto Finance, was quoted as saying.
Guido Buehler, CEO of SEBA Bank, said that, owing to the product’s launch, “asset managers can now offer strategies based on cryptoassets to a broader audience by using Swiss-based mutual fund structures with SEBA Bank as an approved custodian," adding that they are "excited to enable liquid investment funds to investors using cryptoassets as the underlying investment universe.”
Last June, German stock exchange giant Deutsche Börse Group said it bought a majority stake in Crypto Finance as part of its strategy to build a European digital asset ecosystem.
“With its investment in a moderate three-digit CHF million range, Deutsche Börse will hold a two-thirds majority in the 2017 founded fintech,” the group said.
Set up in 2017, Crypto Finance says it provides asset management solutions, brokerage services for cryptoasset trading, as well as crypto asset storage infrastructure and tokenization solutions.