Switzerland’s Financial Market Supervisory Authority (FINMA) has approved the first Swiss crypto fund. It is managed by asset manager Crypto Finance and custodied by Seba Bank. “For the first time, FINMA has approved a Swiss fund that invests primarily in cryptoassets,” said the regulator. First Crypto Fund Approved Under Swiss Laws The Swiss Financial Market Supervisory Authority (FINMA) announced Wednesday that it “has approved the first crypto fund according to Swiss law.” The regulator elaborated: For the first time, FINMA has approved a Swiss fund that invests primarily in cryptoassets. FINMA explained that the fund is called “Crypto Market Index Fund,” noting that it is “an investment fund according to Swiss law belonging to the category ‘other funds for alternative investments’ with particular risks.” The financial regulator added that there are some requirements tied to the approval. For example, the fund “may only invest in established cryptoassets with a sufficiently
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