ChainCatcher news, Spanish bank A&G, focused on private banking, has launched its first cryptocurrency hedge fund. The fund will be open to professional investors and will be audited by PwC. As of the end of 2022, the company's total assets amounted to €12.4 billion ($14 billion).In 2022, the Bank of Spain began issuing licenses to virtual currency exchange and digital wallet custody service providers, with companies such as Bit2Me, Bitstamp, BVNK, Crypto.com, and Ripio receiving the license. (source link)

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)