{"id":40059,"date":"2023-07-25T02:18:19","date_gmt":"2023-07-25T06:18:19","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/spanish-bank-ag-launches-crypto-investment-fund\/"},"modified":"2023-07-25T02:18:21","modified_gmt":"2023-07-25T06:18:21","slug":"spanish-bank-ag-launches-crypto-investment-fund","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=40059","title":{"rendered":"Spanish Bank A&G Launches Crypto Investment Fund"},"content":{"rendered":"
\n

The leading Spanish private bank A&G has launched a crypto investment fund offering, in a sign adoption is continuing to rise in the European nation.<\/p>\n

Europa Press reported that A&G will launch an investment fund product after registering the fund\u2019s brochure with the regulatory National Securities Market Commission (CNMV).<\/p>\n

The fund will be the first of its kind in Spain.<\/p>\n

The bank said investors had expressed \u201cgreat interest\u201d in crypto investment.<\/p>\n

A&G said crypto investment \u201ccan be channeled with more efficient risk management and control, via investment products that are safer and better regulated.\u201d<\/p>\n

The bank also said that funds where \u201cprofessionals subject to supervision are involved\u201d represented a safe choice for crypto-keen investors.<\/p>\n

Another bank, CACEIS, will function as the fund\u2019s depositary, while PwC (PricewaterhouseCoopers) will serve as its auditor.<\/p>\n

CACEIS Bank is the joint asset servicing arm of the European banking powerhouses Cr\u00e9dit Agricole and Santander.<\/p>\n

Last month, CACEIS was awarded a crypto custody license by the French markets regulator.<\/p>\n

A&G said that the exact composition of the fund had not yet been determined.<\/p>\n

But the bank said the fund will \u201chave between 50% and 100% exposure to cryptocurrencies, exclusively through financial instruments whose profitability is linked to [tokens].\u201d<\/p>\n

The fund will have exposure to both Bitcoin (BTC) and Ethereum (ETH).<\/p>\n

It will also have a \u201cminority\u201d exposure to \u201cother existing or future cryptocurrencies that have satisfactory levels of volume and liquidity.\u201d<\/p>\n

New Spanish Crypto Fund: Adoption Rising?<\/h2>\n

The brochure notes that A&G\u2019s new fund \u201cmay not be suitable for investors who plan to withdraw their money in a period of less than four years.\u201d<\/p>\n

However, the brochure also includes mandatory warnings from the CNMV.<\/p>\n

The regulator notes that the fund involves \u201cinvestments in financial instruments whose profitability is linked to cryptocurrencies.\u201d<\/p>\n

This entails, per the regulator, \u201cvery high levels of risk due to cryptocurrencies\u2019 extreme volatility, complexity, lack of transparency, custody, and concentration risk, which may lead to the total loss of [your] investment.\u201d<\/p>\n

In March, a prominent Spanish MP said he was stepping down from his role in parliament to pursue a crypto-related career.<\/p>\n

And earlier this month, a tax firm claimed that 70% of Spanish crypto holders making tax declarations had experienced losses on their token investments in FY2022.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The leading Spanish private bank A&G has launched a crypto investment fund offering, in a sign adoption is continuing to rise in the European nation. Europa Press reported that A&G will launch an investment fund product after registering the fund\u2019s brochure with the regulatory National Securities Market Commission (CNMV). The fund will be the first […]<\/p>\n","protected":false},"author":1,"featured_media":40060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-40059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nSpanish Bank A&G Launches Crypto Investment Fund | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The leading Spanish private bank A&G has launched a crypto investment fund offering, in a sign adoption is continuing to rise in the European\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=40059\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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