FiCAS AG from Swiss reveals granting of approval by the Regulator for launching its own crypto-exchange-traded product (ETP). Says they can send ETPs to the entire crypto industry in the European Region.
It was informed by FiCAS that it had sought approval from the regulator regarding its proposed ETP. FiCAS told that the application was submitted with the Regulator regarding 15 FiCAS Active Crypto ETP (BTCA) which it intended to launch in Europe.
It was revealed by FiCAS on Thursday, December 7, 2020, that it had been granted approval by the Regulator.
In the light of the permission, FiCAS is duly authorized now to launch its ETP outside the Swiss crypto industry. FiCAS informed that it wanted to launch its ETP in the crypto industry existing in the European Region. Since it got the permission, now the company is seeking to acquire European investors.
FiCAS’s ETP was earlier listed on a crypto exchange called SIX Swiss Exchange when it was launched on 15th July, 2020.
FiCAS further information that with the permission in place, it can now present its BTCA in the European crypto industry. The investors and customers from Europe would now be able to purchase BTCA either through brokers or through their banks.
Ali MizaniOskui, FiCAS’s Founder, stated that his company had marked a huge achievement as it had been allowed access to the European crypto industry. He stated that this was the prominent development which his company had envisioned since launching of its ETP. He also stated that BTCA is going to be first of its kind ETPs which would be managed actively.
It was reported by FiCAS that since the launching of its managed ETPs, it had been able to achieve significant results. It informed that assets belonging to ETPs that are under management by FiCAS had surpassed the value of US$ 5 Million.
FiCAS is one of those companies which had listed the first-ever crypto ETP which could be managed actively. On the other hand, the founder of FiCAS, Ali Mizani, is a veteran asset manager who holds 20 years of experience in the field. However, for the past 8 years, he has been managing crypto assets. He is also a renowned predictor of Bitcoin whose predictions have come true most of the time.