A&G, the prominent Spanish private bank, has introduced a crypto investment fund, indicating growing adoption of cryptocurrencies in Spain.
List Your Profile Links On CryptosHeadlines.com
“Become a Supporter of CryptosHeadlines.com! Send us your name and social profile links, and we will add your name along with your profile links to the Supporter Page as a proud supporter of CryptosHeadlines.com.
Supporter Page Link
Europa Press reported that A&G will launch Spain’s first crypto investment fund after registering its brochure with the National Securities Market Commission (CNMV). The bank noted strong investor interest in cryptocurrency investments.
A&G stated that crypto investment can be more efficiently managed and controlled through safer and better-regulated investment products.
Secure Crypto Investment:
The bank highlights the safety of funds managed by supervised professionals for cryptocurrency enthusiasts. CACEIS will serve as the fund’s depositary, and PwC (PricewaterhouseCoopers) as the auditor.
CACEIS Bank, the joint asset servicing arm of Crédit Agricole and Santander, has recently obtained a crypto custody license from the French markets regulator.
Bitcoin prices versus the euro over the past year. (Source: XE.com)
A&G’s Crypto Investment Fund Highlights:
A&G’s new fund will have 50% to 100% exposure to cryptocurrencies through financial instruments linked to tokens, ensuring profitability. It will include Bitcoin (BTC) and Ethereum (ETH) exposure, along with a “minority” exposure to other cryptocurrencies with adequate volume and liquidity.
Ethereum prices versus the euro over the past year. (Source: XE.com)
New Crypto Fund Signals Growing Interest in Spain
The brochure highlights that A&G’s new fund may not be suitable for investors intending to withdraw their money within four years. It also includes mandatory warnings from the CNMV.
The regulator emphasizes that the fund involves investments in financial instruments linked to cryptocurrencies, which carry very high levels of risk due to extreme volatility, complexity, lack of transparency, custody, and concentration risk. These factors may result in the total loss of the investment.
In March, a prominent Spanish MP resigned from parliament to pursue a crypto-related career. Additionally, a tax firm reported that 70% of Spanish crypto holders who filed tax declarations experienced losses on their token investments in FY2022.
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.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News and Threads App
