A&G Funds, a subsidiary of the Spanish private bank has launched an actively managed cryptocurrency fund. The fund will primarily invest in other financial instruments such as exchange traded notes or products rather than directly in cryptocurrencies.
“We believe that it 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,” said Diego Fernández Elices, Director General of Investments at A&G. Not only did the announcement carry a lot of caveats, but the offer document has even more.
It carries the warning by Spanish regulator CNMV that includes comments such as cryptocurrencies have “very high risks due to their extreme volatility, complexity, lack of transparency, custody risk and concentration which may result in the total loss of the investment.”
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