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.
- 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.