Swiss crypto investment manager FiCAS AG says it has received regulatory approval to make its cryptocurrency exchange-traded product (ETP) available across the European market.

FiCAS announced Thursday it now has permission to make its 15 FiCAS Active Crypto ETP (BTCA) available to a wider pool of investors outside of the Swiss market.The company launched the ETP on July 15, 2020, listing it on SIX Swiss Exchange.FiCAS said European Union approval gives it the green light for all types of investors in the EU to purchase the BTCA through their bank or broker."Gaining access to the EU marketplace marks a significant breakthrough in our mission to make the world's first actively managed ... ETP available to retail and professional investors across Europe,” said FiCAS founder Ali Mizani Oskui.The product's managers trade bitcoin against a range of alternative cryptocurrencies, including ether, bitcoin cash and litecoin.The firm reports the ETP's assets under management have increased to over $5 million as of Jan. 6.

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