It is called Crypto Fund and it has been licensed as an asset management tool by the FINMA, the financial market regulator in Switzerland.
To date, it is the country’s first duly authorised crypto asset manager, on par with other traditional fund managers in Switzerland.
The fund, managed by Crypto Finance of former UBS banker Jan Brzezek, aims to simplify access to the crypto market for investors and selects a diversified portfolio of crypto assets.
To enable this, an index has been created, the Crypto Market Index 10, which is a passive investment vehicle available to qualified investors. This index is calculated and managed by SIX Swiss Exchange AG, the operator of the Zurich Stock Exchange.
The Index is rebalanced quarterly and contains the 10 largest crypto assets, weighted according to their market capitalization. However, the Index does not include “crypto assets aimed solely at providing anonymous payment services and crypto assets classified as securities” for regulatory purposes and in order to comply with applicable regulations. In addition, cryptocurrencies without a secure preservation solution will also be excluded: only those that allow multi-signature solutions will be selected.
Brzezek said: “The Finma authorization for Crypto Fund is a key step for our clients and investors, and for us in becoming a leading provider
of digital asset services worldwide“.
Switzerland continues to be a welcoming nation to technological innovations, although other countries are also making giant strides recently, among which Malta certainly stands out.
Even the US, despite being a little uncertain, is starting to make some moves. This means that Switzerland is expected to compete for the role of leading nation in the process of spreading crypto assets in the financial world.