Industry Updates

Fineqia receives approval to launch crypto and NFT ETNs in Europe

The firm’s subsidiary was established in Liechtenstein last November

Jamie Gordon

a close-up of a pile of coins

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.”

The firm’s entry into Europe comes at an eventful time for digital assets, with crypto ETNs seeing new launches and closures in March.

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.

However, question marks remain over which ETN issuers have staying power in Europe after Eqonex and Bitpanda both shut their ranges following the FTX crisis.

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