Wave Financial LLC (Wave), a US-based regulated digital asset investment management firm, announced on Thursday that it has acquired a minority stake in FINMA-regulated Swiss-based crypto investment manager Criptonite Asset Management.
The acquisition follows the strategic partnership between the two firms back in 2021 when Criptonite launched several Actively Managed Certificates (AMCs) of Wave Financial's flagship digital asset funds in Europe, including the Wave Bitcoin Income and Growth and NFT funds.
By acquiring Criptonite, Wave said it will be able to take advantage of the rising demand for regulated digital asset investment fund products in Europe.
Matteo Dante Perruccio, President International at Wave Financial, talked about the development: "We have seen unprecedented demand from institutional and other accredited investors for professionally managed digital asset funds in Europe. There seems to be a flight to quality taking place, so it makes sense to take our...
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