- Jupiter scraps $2.5M XRP ETP investment due to regulatory hurdles.
- Ireland prohibits crypto investments in UCITS funds, while Germany permits it.
- The cancellation stemmed from discrepancies regarding crypto investments across EU jurisdictions.
London-based Jupiter Asset Management (JUN), known for its substantial assets under management totaling over $65.8 billion, recently faced a setback in its crypto investment endeavors.
According to a report by the Financial Times, the firm had to abandon an investment in a crypto exchange-traded product (ETP) due to compliance concerns. Specifically, Jupiter’s compliance division prevented its investment team from including a crypto ETP in one of its Irish UCITS — tradable investment funds.
Per the FT report, the development emerges at a time when fund managers are progressively considering incorporating crypto assets into their portfolios amid inconsistency in regulatory standards across the EU.
The investment in question was made by Jupiter’s Gold & Silver fund, which allocated $2.58 million into 21Shares’ XRP ETP during the first half of 2023. However, this investment was flagged during the company’s routin…
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