Spanish bank A&G will launch a cryptocurrency investment fund, with CACEIS serving as the custodian

ChainCatcher news, Spanish private bank A&G will launch a cryptocurrency investment fund product after registering with the National Securities Market Commission (CNMV). It is said to be the first fund of its kind in Spain.

The bank stated that investors have shown "great interest" in cryptocurrency investments, and that crypto investments "can achieve more effective risk management and control through safer and more regulated investment products." A&G also mentioned that a fund "involving regulated professionals" is a safe choice for cryptocurrency investors.

Another bank, CACEIS, will act as the custodian for the fund, while PwC will serve as its auditing firm. It is reported that CACEIS Bank is a joint asset servicing department of European banking giants Crédit Agricole and Santander. (source link)