Malta’s financial watchdog has given the green light to Iconic Funds’ crypto asset index fund. As a result, this index fund will now be listed on the Malta Stock Exchange.
Listing in the coming days
Iconic Funds, an asset manager, has since confirmed that its index fund will list on the stock exchange in the coming days. Named “BITA20 XA Crypto Asset Index Fund,” the fund reportedly invests most of its capital in the top 20 cryptocurrencies, in addition to depositing tokens in certain staking and interest-bearing accounts.
The fund is aimed at financial institutions and large investors as the general public is reportedly not eligible to invest in the fund. Iconic Funds CEO Patrick Lowry has this to say about the new fund:
“Value crypto world seems to be hyper-focused on the ever elusive place as Bitcoin ETF, we decided to stay ahead and list the Iconic BITA20 XA Crypto Asset Index Fund on a regulated market in Europe. Investors are actively seeking access to crypto beyond Bitcoin, and we hope the listing of our fund will give professional investors more opportunities to gain exposure to the crypto market.”
Bitcoin ETF and Futures
The government is not only involved in cryptocurrencies in Malta. Globally, cryptocurrencies are becoming more accepted. Several application processes for Bitcoin (BTC) Futures are currently underway in the United States. Some of these have already been approved here and this number is expected to increase in the near future.
For example, earlier this week, ProShares’ Bitcoin Strategy ETF is trading on the New York Stock Exchange, just before BTC hit an all-time high of nearly $67,000.
Iconic has previously launched a Bitcoin ETF on the Frankfurt Stock Exchange and the digital stock exchange Xetra. However, the company claims that the crypto index fund will be the first in Europe to offer direct exposure to crypto assets listed on a regulated market, with Coinbase acting as the custodian.