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Spain’s leading private bank A&amp;G has launched a crypto investment fund, indicating a rise in adoption in the European nation. 
According to a <a href="https://www.europapress.es/economia/finanzas-00340/noticia-ag-lanza-fondo-ligado-criptomonedas-registrarlo-cnmv-20230724121724.html" target="_blank" rel="noopener noreferrer nofollow">report</a> by Europress, the bank has already registered the fund’s brochure with the regulatory National Securities Market Commission (CNMV). A&amp;G is set to offer this investment product to interested clients. 
The decision came as A&amp;G observed a surge in interest from investors seeking cryptocurrency exposure.&nbsp; 
The bank believes that investing in crypto assets can be safer and more efficient with proper risk management and regulation. 
 You might also like: <a href="https://crypto.news/spain-ends-notorious-crypto-scam-with-over-110m-lost-to-hackers/" rel="noopener noreferrer nofollow"> Spain ends notorious crypto scam with over $110m lost to hackers </a> 
A&amp;G further emphasized its forged partnerships with respected financial institutions to guarantee the fund’s security and compliance. 
CACEIS Bank, the joint asset servicing arm of Crédit Agricole and Santander, will act as the fund’s depositary, while the well-known auditing firm PwC (PricewaterhouseCoopers) will oversee its financials. 
A&amp;G stated that the precise composition of the fund remains undecided at this time. 
However, the bank clarified that the fund would be exposed to cryptocurrencies, ranging from 50% to 100%, but solely through financial instruments tied to the profitability of tokens. 
The primary focus will be Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) and Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>). Additionally, a portion of the fund will be allocated to other well-established cryptocurrencies with satisfactory liquidity and trading volume. 
A&amp;G advises potential investors to consider a longer-term perspective, as the fund may not be suitable for those planning to withdraw their investments within four years. The bank further acknowledged the high risks of cryptocurrencies due to their extreme volatility, complexity, lack of transparency, custody challenges, and concentration risk. 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
 <div class="wp-block-embed__wrapper"> <iframe title="Spain - Tax Haven for Digital Nomads?" width="1020" height="574" src="https://www.youtube.com/embed/3T-6yhhdN78?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
 </div> 
</figure> 
<h2 class="wp-block-heading" id="spain-s-rising-crypto-landscape">Spain’s rising crypto landscape</h2> 
The launch of A&amp;G’s crypto investment fund comes as notable figures in Spain express interest in crypto. In March, a Spanish MP resigned from his parliamentary role to pursue&nbsp;<a href="https://www.criptonoticias.com/comunidad/diputado-espanol-deja-congreso-dedicaria-criptomonedas/" target="_blank" rel="noopener noreferrer nofollow">a career&nbsp;</a>in the cryptocurrency industry. 
On July 23, Singapore-based crypto exchange Crypto.com <a href="https://crypto.news/spain-grants-virtual-asset-service-provider-registration-to-crypto-com/" rel="noopener noreferrer nofollow">secured </a>its virtual asset service provider (VASP) registration from the Bank of Spain. 
The registration grants Crypto.com authority to provide products and services to users in Spain while adhering to strict compliance measures, ensuring user protection and safety. 
Notably, in January 2023, the Bank of Spain <a href="https://crypto.news/spain-launched-euro-pegged-stablecoin-trials/" rel="noopener noreferrer nofollow">authorized a pilot program </a>involving issuing euro-pegged digital tokens. Spearheaded by regulated fintech payments company MONEI, the project enables users to create their euro stablecoins on the Ethereum and Polygon blockchains, with each token backed by real euros. 
 Read more: <a href="https://crypto.news/crypto-exchange-bitstamp-registered-to-operate-in-spain/" rel="noopener noreferrer nofollow"> Crypto exchange Bitstamp registered to operate in Spain </a>

Spanish private bank A&G launches crypto investment fund

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