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.
Jan 28, 2022 at 11:20 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/EDMLKLU43FDEFPLKLK3MVO4L3Q.jpg)
Zurich, Switzerland (Shutterstock)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
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.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/008ae87f-5c6e-412b-816b-ded600ac5054.png)
Jamie Crawley is a CoinDesk news reporter based in London.
Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.