Croatian financial regulator Hanfa has approved a Bitcoin investment fund for the public to invest in.
This fund is the first regulated one with crypto assets.
Just days before halving the largest cryptocurrency, the Croatian financial regulator approved Griffon Asset Management ‘s Passive Digital Asset. According to sources familiar with the matter, the regulator has approved Croatia’s HPB to act as the fund’s depositary.
The fund invests only in Bitcoin and an initial investment period of 15 days or until the total assets reached HRK 1,000,000 (~ $ 145,000).
Griffon Asset Management will use three different DLT explorers to calculate the value of the asset. The judgment reads as follows:
“Also, accessing and disposing of crypto assets requires a number of key signatures, which are stored in different and secure locations, and the transfer of assets cannot take place without the approval of the company and the depositary through their keys.”
The fund does not charge based on its performance. Instead, it collects a 2.5% management fee from investors who leave the fund before the expiration of two years from the date of investment. There is also a fee of 3.5% for investors who leave the fund within a year from the date of investment.