A&G Launches New Crypto Fund Under Spanish Law with PwC Oversight in Spain

 

Contents

• Financial Powerhouses Join Forces in Spain's First Crypto Fund, Backed by PwC's Audit
  
•  Unlocking the Crypto Universe: A&G's High-Risk Fund for Brave European Investors

 

A&G, a Spanish private bank, announced this week the formation of Spain's first domestically regulated crypto hedge fund.

According to the release, the crypto hedge fund has been created under the name Criptomonedas, F.I.L. and will be regulated by Spain's financial markets regulator, Comisión Nacional del Mercado de Valores (CNMV).

The business noted that the fund was created in response to increased investor interest in cryptocurrency, and that it thinks its new fund provides a safer and more efficient option to purchasing spot crypto directly.

 

 

 

Financial Powerhouses Join Forces in Spain's First Crypto Fund, Backed by PwC's Audit

The depositary for the new fund, which will be accessible solely to professional investors, will be Crédit Agricole and Santander's asset servicing subsidiary, CACEIS.

throughout June of this year, CACEIS obtained a licence from France's Financial Markets Authority (AMF) to provide crypto custody services throughout the EU.

Meanwhile, the fund will be audited by PwC, one of the 'big four' auditing and accounting firms.

 Unlocking the Crypto Universe: A&G's High-Risk Fund for Brave European Investors

In a statement, A&G's General Director of Investments, Diego Fernández Elices, said that the new fund is suited for professional investors seeking crypto exposure.

We believe [the fund] is an optimal solution for any professional European investor who wants to get closer to the world of cryptocurrencies, without forgetting that it is a very high-risk fund," Elices said.

As of the end of last year, A&G had €12.4 billion ($14 billion) in assets under management.