First Bitcoin fund approved in the Balkans

Credit: Pixabay – Goran Horvat

Croatian regulator Hanfa just approved a Investment Funds dedicated to the first cryptocurrency of the market.

The financial market regulator in Croatia has given the green light for the launch of the first fund Bitcoin in the Balkan region, reports Coindesk.

Baptized Liabilities Digital Asset, the fund is managed by Griffon Asset Management, a Caymanian-based venture capital firm, and is described as an "open-ended alternative investment fund with a private offer to invest in crypto assets."

The fund accepts investments in cash or bitcoins and collects 2.5% to 3.5% of management fees from investors.

We also learn that the Croatian public bank HPB is in charge of conservation funds as the main depositary.

The fund’s initial offer period will remain open 15 days after the announcement of Hanfa’s decision, or until its manager collects a minimum asset value of 1 million kuna (132,000 euros). The investment objective of the fund is to allow the exposure of investors to the Bitcoin cryptocurrency, with a significant reduction of the technical and other risks linked to individual holding or trading in cryptocurrency, ”reads in a press release.

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