21Shares calls for regulatory clarity on crypto UCITS eligibility
21Shares has called on Europe’s financial watchdog to create a “unified regulatory framework” to include cryptocurrency assets under the UCITS framework.
Responding to the European Securities and Market Authority’s (ESMA) industry-wide review of the UCITS Eligible Assets Directive, the crypto exchange-traded product (ETP) issuer said the current rules are “inconsistent across Europe” and create “confusion” for investors.
Rules around including crypto assets in UCITS funds differ across Europe, with national regulator’s interpreting the rules differently.
For example, German regulator BaFin allows UCITS funds to buy crypto exchange traded-notes (ETNs), while the Spanish regulator – the Comisión Nacional del Mercado de…
