CRYPTO MARKET INDEX FUND
The Crypto Market Index Fund is the first regulated Swiss crypto fund. It was approved by FINMA in September 2021, and enables institutional and professional investors to participate in this new asset class. A strong partnership between the Swiss companies PvB, AMINA Bank, and Matrixport Asset Management AG enabled this all Swiss venture, and put Switzerland, once more, in the vanguard of the digital era
INVESTMENT OBJECTIVE
The investment objective of the Crypto Market Index Fund (the “Fund”) is to passively replicate the Crypto Market Index 10 (the “CMI10”). The Fund invests in a large-cap crypto asset portfolio, weighted by market capitalisation in line with the CMI10. The Fund may employ optimised sampling to replicate the index - this is especially the case where the assets are not yet available at the depositary’s cold storage solution.
THE INDEX
The Crypto Market Index 10 is administered and calculated by SIX Index AG. The Index contains up to 10 crypto assets and weighs them according to their market capitalisation with quarterly rebalancing. The prices for the crypto assets and tokens are obtained from multiple trading venues. The SIX Crypto Market Index 10 was standardised at 1000 points on 30 December 2016, and has been calculated on an ongoing basis since 09 January 2018. A crypto-asset must pass a minimum threshold for market capitalisation and trading volume to be eligible for the Index. Indexed, pegged, and anonymity-centred crypto assets are excluded. A reliable multisignature secure storage solution must exist to be eligible. The rulebook of the Crypto Market Index 10 can be found on the SIX Index AG website.