Matrixport’s crypto fund gears up for U.K expansion

Matrixport Asset Management AG’s Crypto Market Index Fund has registered for marketing under the Financial Conduct Authority in the U.K, expanding its reach into the region. What would this entail?

Summary

• An FCA registration means that Swiss-based Crypto Market Index Fund may soon be available for U.K institutional investors.
• This marks the fund’s first expansion outside of Switzerland, where it already obtained regulatory approval from FINMA.

If the Financial Conduct Authority registration gets approved, this means that the Swiss-based crypto fund would be available to be marketed and distributed in the United Kingdom for institutional clients on a private placement basis. This will mark the first time the crypto fund is attempting to spread its wings outside of Switzerland.

The Crypto Market Index Fund tracks the Crypto Market Index 10 or CMI10, published by the SIX Swiss Exchange. The index measures the performance of the ten largest and most liquid crypto assets based on its assessment, including Bitcoin (BTC), Ethereum (ETH), Ripple, and Solana (SOL), with constituents weighted by market capitalization

Initially, the fund only held authorization from FINMA, the Swiss Financial Market Supervisory Authority, though recently it has moved on to other markets. Originally launched in 2021, the Crypto Market Index Fund became the first regulated crypto asset fund in Switzerland.

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In addition, the fund acts as an investment vehicle for institutional clients that combines regulatory supervision with asset segregation under a regulated fund structure. This structure makes the crypto fund different from other investment instruments such as ETPs or ETNs.

The fund operates under Matrixport Asset Management AG, which was formerly known as Crypto Finance Asset Management AG, or CFAM in Switzerland. The Singapore-based crypto financial services platform purchased the asset management unit of Crypto Finance AG in September last year and rebranded it to Matrixport Asset Management AG.

Matrixport’s U.K expansion

The fund will be distributed in the U.K by Matrixport Advisors Limited, an appointed representative of Varramore Partners Limited, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom. This signifies the firm’s willingness to comply by the FCA’s requirements to operate in the region.

Chief Operating Officer at Matrixport Group, Cynthia Wu, said that the FCA marketing registration marks an important milestone that follows the firm’s planned expansion into Britain.

“Matrixport is committed to offering digital asset management products and solutions that combine innovation with compliance, while steadily strengthening its footprint in the European asset management market, enabling institutional investors to access the digital asset class in a secure, transparent, and cost-efficient way,” said Wu in her statement.

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