6M is the first Alternative Investment Fund Manager (AIFM) authorised to manage third-party digital assets funds, following recent approval from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF).
This marks the first time professional investors in European jurisdictions are permitted to invest directly into digital assets through regulated or semi-regulated Alternative Investment Fund (AIF). As many institutions have restrictions in allocating to offshore funds, the move represents a new opportunity to gain exposure to the digital asset market through the recognisable and reputable scope of an AIFM.
This partnership between Zodia Custody and 6M enables fund promoters or asset managers to distribute funds across the European market while providing a best-in-class crypto funds solution offering utmost security around custody of the assets.
“From day one, we were impressed by their robust custody solution. A fund requires a supportive ecosystem to operate effectively, and having Zodia Custody as a member ensures the secure safeguarding of assets. We would also like to extend our gratitude to the Zodia Custody team for their assistance throughout our authorization process.” says Quentin Werlé at 6 Monks.
“We have been working with 6M for the last 18 months on this initiative and we applaud them on receiving their authorisation,” said John Cronin, CEO Zodia Custody Ireland. “We have been ambitious in our partnership to deliver such a landmark opportunity for the digital asset market.”
“Institutional investors have become comfortable with the investment risk around digital assets – the issue has always been operational risk,” said Cronin. “The authorisation of 6M allowing AIFs to hold digital assets is the final step in addressing those concerns. The familiar structured product of an AIF, which has authorised and reputable actors such as depositaries, administrators, auditors, managers and custodians, gives the comfort that institutional investors expect.”
