XRP ETP Blocked in Jupiter’s UCITS Fund Due To Irish Regulations

• Jupiter scraps $2.5M XRP ETP investment due to regulatory hurdles.
• Ireland prohibits crypto investments in UCITS funds, while Germany permits it.
• The cancellation stemmed from discrepancies regarding crypto investments across EU jurisdictions.

London-based Jupiter Asset Management (JUN), known for its substantial assets under management totaling over $65.8 billion, recently faced a setback in its crypto investment endeavors. 

According to a report by the Financial Times, the firm had to abandon an investment in a crypto exchange-traded product (ETP) due to compliance concerns. Specifically, Jupiter’s compliance division prevented its investment team from including a crypto ETP in one of its Irish UCITS — tradable investment funds.

Per the FT report, the development emerges at a time when fund managers are progressively considering incorporating crypto assets into their portfolios amid inconsistency in regulatory standards across the EU.

The investment in question was made by Jupiter’s Gold & Silver fund, which allocated $2.58 million into 21Shares’ XRP ETP during the first half of 2023. However, this investment was flagged during the company’s routin…

The post XRP ETP Blocked in Jupiter’s UCITS Fund Due To Irish Regulations appeared first on Coin Edition.