Swiss Markets Watchdog Approves First Crypto Assets Fund

Swiss Markets Watchdog Approves First Crypto Assets Fund
Representations of virtual currency Bitcoin are seen in this picture illustration taken on March 13, 2020. Dado Ruvic/Reuters
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ZURICH—Switzerland’s financial markets supervisor said on Wednesday it had approved the country’s first fund that invests primarily in crypto assets.

The Crypto Market Index Fund is restricted to qualified investors and categorised under “other funds for alternative investments” with particular risks, the Swiss Financial Market Supervisory Authority (FINMA) said in a statement.