Switzerland-based cryptocurrency investment management boutique FiCAS has announced it secured regulatory approval and passporting for the Base Prospectus and accompanying product documentation for its 15 FiCAS Active Crypto ETP (BTCA).
According to a press release shared with CryptoGlobe, the 15 FiCAS Active Crypto ETP is the world’s first actively managed cryptocurrency exchange-traded product (ETP), and given the regulatory approval all types of investors in the European Union can now buy BTCA via their bank or broker.
The cryptocurrency ETP was first launched in Switzerland in July 2020 and listed on the SIX Swiss Exchange. The EU-wide passporting, the press release reads, allows FiCAS to “break into the wider EU marketplace and offer the ETP to a wider pool of investors outside of its native Swiss market.”
The firm’s founder, Ali Mizani Oskui, said that gaining access to the European Union is a “significant breakthrough,” and added:
Together with our partners, we are leading the charge in bringing about the adoption of crypto assets for all investors in Europe.
Since the actively-managed crypto ETP was launched, the firm says its assets under management have increased to surpass $5 million, and it has had a performance of “nearly 60%” The ETP, it’s worth noting, does not track BTC or a combination of cryptoassets.
Instead, it’s an actively managed investment across the top 15 cryptocurrencies by market capitalization meant to “generate sustainable returns over a time horizon of 3 to 5 years.” BTCA is issued by Bitcoin Capital AG and managed by FiCAS. It aims to deliver enhanced returns via “active trading and risk management.”
Featured image via Pixabay.