Leading Spanish private bank A&G has developed a state-of-the-art European cryptocurrency investment fund. This groundbreaking innovation is the first of its kind in Spain. After filing the fund’s brochure with the National Securities Market Commission (CNMV), the bank is reportedly set to launch its new venture, media reports said.
A&G has responded to the growing number of requests it has received from customers who are curious about the potential of crypto assets. The financial institution believes that crypto investment may be better channeled via regulated and risk-managed solutions.
CACEIS Bank, the combined asset servicing arm of Crédit Agricole and Santander, will act as the fund’s depositary to ensure its legality and safety. PricewaterhouseCoopers (PwC) meanwhile will serve as the company’s auditor.
A&G has said that investors in the fund will be able to have exposure to a wide range of cryptocurrencies, while the fund’s precise composition is still being worked out. It is anticipated that anything from fifty percent to one hundred percent of the fund’s portfolio would consist of token-related financial instruments.
To encourage a diverse and flourishing cryptocurrency market, the fund will accept not just Bitcoin (BTC) and Ethereum (ETH), but any other tokens that can demonstrate adequate trading volume and liquidity.
The goal of A&G’s ground-breaking work is to provide crypto enthusiasts more methods to invest in and learn about digital assets in a controlled environment. This bold move demonstrates CACEIS’s dedication to being at the forefront of the crypto revolution, since the company already has a crypto custody license issued by the French markets authorities.
The bank’s entry into the cryptocurrency investment market sends a strong signal: not only does A&G cater to the demands of discerning investors, but it is also in the front of defining the cryptocurrency investment ecosystem in Spain. This means the nation is prepared to make a major shift toward accepting the dynamic nature of cryptocurrency.
