The Swiss financial regulator FINMA announced that it has just approved its first cryptocurrency fund. Said fund is named Crypto Market Index Fund and will apparently only be allowed to “qualified investors”. FINMA issued the following statement: “For the first time, FINMA has approved a Swiss fund that invests primarily in cryptocurrency assets, that is to say in assets based on the blockchain or distributed ledger technology”. FINMA also stated that innovation is the way to go, but that they also strive to apply the already existing market laws and follow the “same risk, same rules” policy. According to the agency, this approach “makes sure that new technologies are not being used to circumvent the existing rules and that the protective goals of financial market legislation are preserved.” This is clearly a big win for the industry. Where there is one approval, there will likely be more in the future too, I think.
Why would you ever buy it? The repositioning/transaction costs alone will eat so much of the gains, most crypto follow BTC anyways, so either buy BTC/, ETH directly or don't touch crypto.