Malta Financial Services Authority Approves Iconic Cryptocurrency Index Fund for Stock Exchange Listing

Malta Financial Services Authority has approved a cryptocurrency asset index from Asset Manager Iconic Funds for listing on the Malta Stock Exchange. In an October 20 announcement, Iconic Funds said it plans to list its BITA20 XA Cryptocurrency Index Fund on the exchange in the coming days. The fund will offer direct access to cryptocurrencies.

The fund invests most of its capital in the top 20 cryptocurrencies in addition to placing tokens in certain accounting and interest accounts. According to Iconic, only qualified individuals and not the general public will be eligible to invest in the fund.

Iconic already has a physically backed exchange-traded bitcoin product that is currently listed on the Frankfurt Stock Exchange and the Deutsche Boerse, Xetra digital stock exchange. Iconic claims that the crypto index fund will be the first in Europe with direct access to crypto assets listed in a regulated market, with Coinbase Custody International acting as custodian.

Image: Iconic Holding