FINMA, the Swiss financial regulatory, has approved Crypto Finance to become the first regulated crypto asset fund.
Crypto Finance’s fund will be administered by PvB Pernet von Ballmoos AG with custody handled by SEBA Bank AG. As was previously reported, SEBA has just received approval from FINMA to act as a custodian bank for Swiss collective investment schemes.
PvB is supervised as a fund manager that specialises in the structuring, administration, and governance of complex regulated investment vehicles in Switzerland and is servicing in excess of CHF 4 billion.
Crypto Finance called the news “an exceptional achievement to launch this crypto investment fund.” The company added that qualified investors, like Swiss wealth management banks, asset managers, pension funds, and other professional investors, have been waiting for this kind of regulated fund.
The passive investment fund from Crypto Finance is designed to track the performance of the Crypto Market Index 10, which is administered by the SIX Swiss Exchange.
Crypto Finance has a mission to enable crypto asset management of a quality comparable with investment products in traditional markets.
Bernadette Leuzinger, CEO of Asset Management at Crypto Finance, commented:
“Crypto Finance is pleased to launch the first Swiss crypto fund, supervised by FINMA and launched with strong Swiss partners PvB and SEBA Bank. 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.”
Guido Buehler, CEO of SEBA Bank, said that two years ago when SEBA received a Swiss banking and securities dealer licence, and now to operate as a custodian, the bank has passed another important stage in living up to its pioneering objective:
“Asset managers can now offer strategies based on crypto assets to a broader audience by using Swiss-based mutual fund structures with SEBA Bank as an approved custodian. We are excited to enable liquid investment funds to investors using crypto assets as the underlying investment universe. This is a further step in the evolution of digital assets investments.”
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