Bitcoin, ether markets ‘best support operations,’ for public crypto asset funds: CSA
Canada updated its guidance for investment funds investing in crypto. The notice outlines Canada’s expectation for funds either directly or indirectly investing in crypto assets. As of April, 22 public crypto asset funds have less than 3 billion Canadian dollars in net assets according to Canada’s Securities Administrators. CSA does play favorites in the notice, stating that it believes bitcoin and ether markets “best support the operations of Public Crypto Asset Funds at this time without compromising investor protection.” Currently, bitcoin and ether are also “the only crypto assets accepted as investments for Public Crypto Asset Funds.” “In the future, greater institutional support and mainstream adoption of other crypto asset s may result in those crypto asset s becoming suitable investments for public ly distributed investment funds ,” CSA wrote. The notice also brings up the possibility of a regulated futures market, which would provide “support for the proper valuation ...