Croatia Approves First Bitcoin Investment Fund
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11 May
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Croatian financial watchdog, the Croatian Financial Services Supervisory Agency (Hanfa), has approved the first bitcoin investment fund in the country, SeeNews has learned.

Passive Digital Asset is an open-end alternative cryptocurrency investment fund by Osijek-based company Griffon Asset Management.

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The fund's units initial offering will reportedly remain open for 15 days after the announcement.

Passive Digital Asset is a high-risk fund as its investments focused on cryptocurrency-related assets of high volatility, which is why it is designed for long-term investors who are very risk-tolerable, as an addition to the traditional investment portfolio, the regulator highlighted.

"The investment goal of the Fund is to enable investors' exposure to bitcoin cryptocurrency, with a significant reduction of technical and other operating risks linked with individual holding of cryptocurrency, or cryptocurrency trading," the regulator said.

Earlier iHodl reported that Andreessen Horowitz, an American private venture capital firm, announced it had attracted $515 million for its fund that will be used to invest in crypto networks and businesses.

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