The launch of a cryptoasset funds by local fintech Crypto Finma was approved by the Swiss financial watchdog Finma.
Crypto Finance stated that the vehicle would be Switzerland’s first cryptocurrencyasset fund. This will allow professional and institutional investors to make investments with the company and its partners.
The company stated that the all-Swiss venture included partners PvB, which administer the fund, as well as SEBA Bank providing custody.
The passive investment fund tracks and measures the performance of Crypto Market Index 10, which is managed by the Zurich-based SiX Swiss Exchange. The index tracks and measures the performance the top 10 cryptoassets worldwide by market capitalization.
Bernadette Leuzinger CEO at Asset Management at Crypto Finance was quoted as saying, “The investment fund allows clients of innovative wealth management firms to participate this upcoming asset type and to further diversify your portfolio in a safe and regulated manner.”
SEBA Bank CEO Guido Buehler stated that the product’s launch has allowed “asset managers to now offer strategies based upon cryptoassets” to a wider audience. He added that SEBA Bank is an approved custodian and uses Swiss-based mutual funds structures to facilitate liquid investment funds for investors using cryptoassets.
In June 2009, the German stock exchange giant Deutsche Borse Group announced that it purchased a majority share in Crypto Finance as part its strategy to build a European digital asset network.
Deutsche Borse, with its moderate investment of three-digit CHF millions range, will have a two-thirds majority stake in 2017 founded fintech,” said .
Crypto Finance was established in 2017 and offers asset management solutions, brokerage for cryptoasset trading services, crypto asset storage infrastructure, tokenization solutions, and crypto asset storage infrastructure.