A&G, a Spain-based private banking entity with €12.4 billion ($14 billion) in assets under management, has launched the first crypto fund under Spanish law.
The hedge fund will be accessible exclusively to professional investors and will be audited by PwC.
CACEIS, a banking group of Crédit Agricole and Santander, will serve as the fund’s depositary.
The Bank of Spain began granting licenses to virtual currency exchange and digital wallet custody providers in 2022, with companies like Bit2Me, Bitstamp, BVNK, Crypto.com, and Ripio obtaining such licenses.
A&G’s chief investment officer, Diego Fernandez Elices, noted that while it presents an opportunity for European professional investors to explore cryptocurrencies, the fund comes with high risks.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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