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FiCAS' Actively Managed Crypto ETP Gets Green Light for European Expansion
The first actively managed crypto ETP, the BTCA was launched in Switzerland last July.
Swiss crypto investment manager FiCAS AG says it has received regulatory approval to make its cryptocurrency exchange-traded product (ETP) available across the European market.
STORY CONTINUES BELOW
- FiCAS announced Thursday it now has permission to make its 15 FiCAS Active Crypto ETP (BTCA) available to a wider pool of investors outside of the Swiss market.
- The company launched the ETP on July 15, 2020, listing it on SIX Swiss Exchange.
- FiCAS said European Union approval gives it the green light for all types of investors in the EU to purchase the BTCA through their bank or broker.
- "Gaining access to the EU marketplace marks a significant breakthrough in our mission to make the world's first actively managed ... ETP available to retail and professional investors across Europe,” said FiCAS founder Ali Mizani Oskui.
- The product's managers trade bitcoin against a range of alternative cryptocurrencies, including ether, bitcoin cash and litecoin.
- The firm reports the ETP's assets under management have increased to over $5 million as of Jan. 6.
Also read: Swiss Exchange Lists World’s First Active Bitcoin ETP
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
