According to Cryptonews, Spanish private bank A&G will launch a crypto investment fund product after registering with the regulator National Securities Market Commission (CNMV). It is said that this will be the first fund of its kind in Spain.

The bank said that investors have shown "great interest" in cryptocurrency investments, which "can achieve more effective risk management and control through safer and more regulated investment products." A&G also said that funds "with the participation of regulated professionals" are a safe choice for cryptocurrency investors. Another bank, CACEIS, will serve as the custodian of the fund, while PwC will serve as its auditor. It is reported that CACEIS Bank is the joint asset services department of European banking giants Crédit Agricole and Santander Bank.