RATE Group | Croatian regulator OKs establishment of bitcoin investment fund Passive Digital Asset
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Croatian regulator OKs establishment of bitcoin investment fund Passive Digital Asset

07 May Croatian regulator OKs establishment of bitcoin investment fund Passive Digital Asset

Posted at 15:46h in Bitcoin News by

ZAGREB (Croatia), May 7 (SeeNews) – Croatia’s financial regulator, Hanfa, said on Thursday it has approved the establishment of open-end alternative cryptocurrency investment fund Passive Digital Asset by Osijek-based company Griffon Asset Management.

The period of initial offering of the fund’s units will remain open 15 days after the announcement of Hanfa’s decision, or until its manager collects a minimum asset value of 1 million kuna ($142,000/132,000 euro), the regulator said in a statement.

Passive Digital Asset is considered a high-risk fund since investment in crypto assets is surrounded by high volatility and uncertainty linked to the regulatory frameworks that control this type of assets. Therefore, the new fund is designed for long-term investors who are very risk-tolerable, as an addition to the traditional investment portfolio, Hanfa noted.

“The investment goal of the Fund is to enable investors’ exposure to bitcoin cryptocurrency, with a significant…

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