Swiss markets watchdog approves first crypto assets fund

Representation of cryptocurrency Bitcoin is placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/IllustrationZURICH, Sept 29 (Reuters) – Switzerland’s financial markets supervisor said on Wednesday it had approved the country’s first fund that invests primarily in crypto assets.The Crypto Market Index Fund is restricted to qualified investors and categorised under “other funds for alternative investments” with particular risks, the Swiss Financial Market Supervisory Authority (FINMA) said in a statement.Crypto assets are based on the blockchain or distributed ledger technology.”In order to facilitate serious innovation, FINMA applies the existing provisions of financial market laws in …
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