A subsidiary of Canadian crypto investor Fineqia International has received approval from the Liechtenstein Financial Markets Authority (FMA) to launch exchange-traded notes (ETNs) in Europe tracking crypto assets and non-fungible tokens (NFTs).
The prospectus, which was approved by the FMA on 23 March, enables Fineqia to issue ETNs in EU member states and other European Economic Area (EEA) members including Iceland and Norway.
The firm announced the prospectus covers ETNs with underlying assets including bitcoin, ethereum, cardano, polkadot, uniswap, stellar, tezos and NFTs.
The news follows the creation of Fineqia AG in Liechtenstein last November.
Liechtenstein’s FMA has also been chosen by other crypto issuers looking to enter crypto ETNs in Europe including VanEck, Bitcoin Capital, Pando Asset, SA1 Issuer, DMAP PCC and DDA ETP – previously Iconic Holidngs.
Bundeep Rangar, CEO of Fineqia, commented: “The FMA's approval of the base prospectus will allow us to provide new investment products and furthers our objective to bring innovation to the digital asset industry.
“We are pleased to have met the regulator's criteria for the approval of a base prospectus.”
Crypto assets are also among the only exposures to benefit from ongoing uncertainty in the banking sector. Bitcoin’s price has risen 65% in Q1 alone.