According to recent reports, France just got a new crypto fund, known as Napoleon Bitcoin Fund, which consists purely out of cryptocurrency.
Napoleon Bitcoin Fund Launches
According to a recent publication by France’s Les Echos, the country recently got its first fully regulated crypto fund, dubbed ‘Napoleon Bitcoin Fund.’ The fund was created by a company known as Napoleon Asset Management, and it allegedly has ties to CME’s (Chicago Mercantile Exchange) cash-settled Bitcoin futures.
The report indicates that the fund was created and dedicated to institutional investors, with a minimum entry of 100,000 euros. Of course, this is not the first time that professional traders in France have had the opportunity to invest in crypto-based financial products, as several firms have already launched similar solutions.
However, Napoleon AM appears to be the winner of this particular race, as it has gained approval by France’s financial regulator, the AMF (Autorité des marchés financiers).
Professional Investors Only
As mentioned, the fund…