Switzerland’s Financial Markets Supervisory Authority (FINMA) has greenlighted the country’s first crypto asset fund. The regulator disclosed this news through a press release earlier today, noting the fund is titled Crypto Market Index 10. This fund falls under the other funds for alternative investments, according to Swiss law, and is restricted to qualified investors only.
Reportedly, the organization behind this fund is Crypto Finance and is administered by PvB Pernet von Ballmoos AG (“PvB”). SEBA bank will be in charge of custody. Per Crypto Finance, leading investors such as Swiss wealth management banks, asset managers, pension funds, and other professional investors, have been anticipating the launch of a regulated fund. Collectively, these organizations manage assets worth trillions.
Per Crypto Finance, the fund seeks to monitor the performance of leading crypto assets and tokens to provide an investable benchmark for this asset class.
Commenting on this launch, Bernadette Leuzinger, the CEO of Asset Management at Crypto Finance, said,
Crypto Finance is pleased to launch the first Swiss crypto fund, supervised by FINMA and launched with strong Swiss partners PvB and SEBA Bank.
She added that the investment fund enables clients of innovative wealth and asset management firms to participate in the burgeoning asset class. Per Leuzinger, this fund also offers investors an opportunity to diversify their portfolios in a secure and regulated manner.
Efforts to foster crypto innovation
According to the news release, FINMA applied the existing provisions of financial market laws in a consistent, technology-neutral manner to approve this fund. In so doing, the watchdog hopes to ensure that the adoption of the nascent sector does not circumvent existing laws. Additionally, the regulator seeks to guarantee the preservation of protective goals of financial
