coindesk.com
The Central Bank of Ireland is "highly unlikely" to allow retail investors to be exposed to crypto assets, it said in a report published on Tuesday.
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The bank cited "the specific risks attached to crypto assets" and "the possibility that appropriate risk assessment could be difficult for a retail investor without a high degree of expertise."
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The central bank's position applies to Undertakings for Collective Investment in Transferable Securities (UCITS), organizations that collectively invest in securities and are regulated by the European Union. It also includes alternative investment funds, which are not regulated by the UCITS directive and include hedge funds, private equity, and real estate funds, according to the European Commission.
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Crypto assets are "highly risky and speculative" but "at the moment" are considered suitable for wholesale and professional investors, the Irish central bank said.
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The statement was part of the central bank's second annual Securities Markets Risk Outlook Report, but was also stated in two reports on UCITS and AIFs in December 2021.
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Several crypto exchange-traded funds have been launched around Europe in the last year.
Read more: WisdomTree's Fourth-Quarter Crypto Assets Managed Rises 5-Fold