FiCAS AG, a reputed Swiss crypto-investment manager, is in the news today after it announced the receipt of regulatory approval to make its cryptocurrency exchange-traded product [ETP] available across Europe. According to the announcement made by FiCAS,
“FiCAS has obtained approval and passporting of the Base Prospectus and other product documentation under EU law of its 15 FiCAS Active Crypto ETP (BTCA; ISIN CH0548689600), opening up European wide market access to the world’s first actively managed crypto-ETP for all investors”
“The discretionary ETP, issued by Bitcoin Capital AG and managed by FiCAS AG, trades the top 15 cryptocurrencies with the aim to deliver enhanced returns for clients via active trading and risk management.”
This development will allow all types of investors in the European Union to purchase the BTCA through their bank or broker. The ETP will be available for purchase to both retail and professional investors in Switzerland and in the EU.
The firm first launched the ETP back in July 2020 by listing it on the SIX Swiss Exchange. As per the company, the EU’s approval will allow it to break into the wider EU marketplace and offer ETP to a wider pool of investors outside of its native Swiss market.
According to a statement made by the Founder of FiCAS Ali Mizani Oskui,
“Gaining access to the EU marketplace marks a significant breakthrough in our mission to make the world’s first actively managed – the 15 FiCAS Active Crypto ETP – available to retail and professional investors across Europe. Together with our partners, we are leading the charge in bringing about the adoption of crypto assets for all investors in Europe.”
Since July 2020, the company’s assets under management have only risen, with the same noted to be worth over $5 million, as of 6 January 2021. In fact, according to the said announcement, “the ETP displayed a performance since launch of nearly 60%.”