A closer look
The CSSF’s FAQs update Luxembourg fund rules further to MiCAR entry into force and materially reshapes how UCITS, AIFs, IFMs and depositaries can engage with crypto‑assets.
The updated positions apply from 4th and 17th  February 2026 onward respectively, taking immediate effect for new projects and serving as the reference point for the review of existing products.
UCITS and AIFs: Portfolio construction and limits
Key changes
UCITS are permitted to gain indirect exposure to crypto-assets—capped at 10% of NAV—through eligible transferable securities without embedded derivatives. Practically, exchange-traded products (ETPs) with crypto-assets as underlying and that qualify as transferable securities…
