For the First Time: Swiss Cryptocurrency Fund Approved by FINMA

[mlawson71]

The Swiss financial regulator FINMA announced that has just approved its first cryptocurrency fund. Said fund is named Crypto Market Index Fund and will apparently only be allowed to “qualified investors”.
FINMA issued the following statement: “For the first time, FINMA has approved a Swiss fund that invests primarily in cryptocurrency assets, that is to say in assets based on the blockchain or distributed ledger technology”.
FINMA also stated that innovation is the way to go, but that they also strive to apply the already existing market laws and follow the “same risk, same rules” policy. According to the agency, this approach  “makes sure that new technologies are not being used to circumvent the existing rules and that the protective goals of financial market legislation are preserved.”
Source
I think it is fantastic that Switzerland, of all places, has become accepting of cryptos. This is a big win for the industry.