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Investment Firm L1 Digital Receives FINMA Approval for Collective Crypto Investments
The Zurich-based firm manages around $500 million in assets from institutional clients such as pension funds, family offices and wealth managers.
L1 Digital, a Swiss digital asset investment firm, has won authorization from the Swiss financial regulator FINMA to manage collective investment vehicles.
- The Zurich-based firm, founded in 2018, manages around $500 million in assets from institutional clients such as pension funds, family offices and wealth managers.
- Collective investment vehicles involves investors pooling their money to invest in funds, rather than buying securities directly. In this context, L1 acts as an enabler for institutions to access liquid investments in crypto.
- The Swiss financial regulator has been very liberal towards crypto investments and has offered investment firms more regulatory access to crypto assets in a way that most other regulators have not.
- Last year, FINMA gave crypto bank SEBA the first-ever license to offer digital assets to mutual funds via collective investment vehicles.
Read more: A National Stock Exchange That Supports NFTs? Welcome to Switzerland
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Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
