By Jeremy Nation
June 12, 2017 ETHNews.com
Jan Brzezek, CEO of Crypto Fund AG and former business manager of the president of UBS Asset Management and UBS Group EMEA, spoke of the differences between the new fund and predecessors, which failed to gain approval from regulators:
"We recognized the growing demand of qualified investors for a regulated and transparent gateway to cryptocurrencies and realized that we need a proven and recognized legal framework allowing qualified investors to invest in cryptocurrencies. Unlike the Winkelvoss-ETF, which was rejected by the SEC, we use the regulated and proven Swiss fund structure according to KAG [Swiss Collective Investment Schemes Act], where the asset manager, the fund management company and the custodian bank are legally separate from each other. The Fund will be highly diversified and will not list on an exchange and exclusively target qualified investors.”
Bernegger noted that it is no coincidence Zug Valley was chosen as a base, citing regulatory clemency and overall regional stability.
"The term ‘Crypto Valley’ has quickly gained acceptance and demonstrates the concentration and growth of Cryptocurrency companies and foundations in the region of Zug and Zurich. It is also important to mention that Switzerland with its good reputation in asset management and stable regulation has already accepted virtual currencies as an asset class. In addition, the Swiss mountains offer safe and tested warehouses for digital assets.”
More: https://www.ethnews.com/europes-first-cryptocurrency-fund-launching-from-zug-valley