Iconic Funds' Crypto Asset Index Fund Receives License From EU Regulator
FRANKFURT, Germany, October 10, 2019 (Newswire.com) - Iconic Funds has been granted a license by the Malta Financial Services Authority (MFSA) to launch a Professional Investor Fund (PIF). The self-managed fund tracks the BITA20 XA crypto index by directly investing into the crypto assets comprising the index, itself a benchmark of the top 20 crypto assets by market capitalization. The fund may be subscribed to by qualified investors, as defined by the MFSA PIF regime.
With the PIF license now secured, the Fund intends to launch by early November 2019.
“Everything we do at Iconic is geared towards driving the adoption of crypto as a genuine asset class,” said Patrick Lowry, CEO and Managing Partner of Iconic. “We are ecstatic that we can offer qualified investors passive and diversified exposure to the burgeoning crypto economy through our crypto asset index funds. Our aim is to bridge the traditional financial and crypto world through structured investment products that offer investors the quality assurances they require through vehicles such as the PIF. We are excited to be one of the first licensed crypto funds in the EU and look forward to ongoing collaboration with the MFSA.”
The oversight of the fund consists of a team of experienced crypto asset investors and asset managers, venture capitalists and regulatory experts. The Directors of the Fund are Lowry, Maximilian Lautenschläger and Dr. Deborah Chappell. The Investment Committee boasts prominent investor Christian Angermayer and FinLab AG Board Member Stefan Schuetze. The fund is administered by Fexserv Fund Services, a leading financial services firm for alternative investment strategies.
Iconic Funds intends to jumpstart the global institutional adoption of crypto assets by expanding its offering of enterprise-grade crypto investment vehicles, such as the now-licensed PIF. The team is hard at work on structuring new, crypto regulated investment vehicles for qualified and retail investors, including Exchange Traded Products such as ETNs and ETFs, the first of which is expected to be made available to investors in Q4 2019.
About Iconic Funds:
Iconic Funds is the issuer of a series of enterprise-grade crypto asset index funds and exchange-traded products. Structured as a Joint Venture between Iconic Holding and Cryptology, Iconic Funds’ portfolio of regulated crypto asset investment products offers investors passive and diversified exposure to the world’s fastest-growing asset class. Iconic Funds' investment products are issued through the AMaaS ecosystem, leveraging licensed third-party service providers and fund administrators as the group champions traditional asset management best practices.
About Iconic Holding:
Iconic Holding is a global crypto asset management firm and fintech company builder headquartered in Frankfurt, Germany, with offices in London and New York. Iconic Holding launched Iconic Lab, a global venture capital group and blockchain accelerator program, in early 2017 and is issuing a series of crypto asset index funds and exchange-traded products under the Iconic Funds brand. Iconic Holding is the developer of the crypto asset management platform for external crypto asset managers, AMaaS, and the issuer of the ICNQ token. Iconic Holding is a portfolio company of FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A), High-Tech Gründerfonds (HTGF) and Cryptology.
Cryptology is a Malta-based investment company investing in crypto assets and crypto companies around the globe. Founded by Christian Angermayer’s family office, Apeiron Investment Group, and backed by crypto-legend Mike Novogratz, the company aims to become the leading crypto asset holding company in Europe. Cryptology’s portfolio includes Block.one, nextmarkets and Iconic Holding among others.
Source: Iconic Holding