Iconic Holding, a crypto asset investment company, announced today that their joint venture crypto index brand, Iconic Funds, was in-principle approved by the Malta Financial Services Authority (MFSA) for the launch of a new fund.
The fund intends to invest in the top-20 crypto assets by market capitalization, offering a passive and diversified exposure to the growth of the crypto-asset market through an indexation strategy.
The Professional Investor Fund (PIF), administered by Fexserv Fund Services, uses only licensed third-party service providers for crypto-asset custody, trade execution, audit and more, all enabled through Iconic’s AMaaS platform.
The fund seeks to track the BITA-20XA Index, published by the digital index provider, Bita Data, and rebalance on a monthly basis to limit transaction costs. The index excludes anonymous and other potential non-compliant crypto assets to provide the highest level of investor protection.