UK regulator FCA approves first crypto hedge fund
- Prime Factor Capital, is the first crypto hedge fund approved by the Financial Conduct Authority.
- Under European regulation, the firm can hold more than EUR 100 million under management.
The UK regulator, FCA has approved the first crypto hedge fund, Prime Factor Capital, as a full-scope alternative investment according to reports via Bloomberg,
Despite the approval via the FCA, the fund will abide by European regulations, with the guidelines the firm will be allowed to hold more than EUR 100 million under management.
It marks somewhat of a milestone, the first agency that has been approved to invest exclusively in the cryptocurrency asset class.
The COO of the firm, Adam Grimsley said:
Most vehicles for investing in cryptocurrencies are outside the scope of regulators and that’s a big problem in a market that has such a bad reputation,
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
