OSLO, NORWAY: eGroup AS will soon launch the first index fund for cryptocurrencies in the Nordics. The fund will give institutional investors direct exposure to the largest cryptocurrencies by market cap. Norwegian Block Exchange (NBX) will deliver a solution for trading and custody.
Demand for cryptocurrency has grown rapidly in recent years, and a survey by EY and Arcane Research earlier this year estimated that up to 420,000 Norwegians own cryptocurrency. There is an increasing consensus that crypto should be included in a diversified investment portfolio, but there has been a lack of opportunity for exposure to the crypto markets through funds within the approved regulatory space.
eGroup has recently been granted approval to establish an alternative investment fund (AIF) by the Norwegian FSA (Finanstilsynet).
eGroup is a technology company that develops solutions in the emerging field of crypto, blockchain and WEB3. Investor Morten Klein is the largest owner of eGroup.
NBX, the first publicly listed exchange for cryptocurrencies in the Nordics, will be responsible for trading and custody of the fund´s assets.
The index fund is planned launched in early fall 2022, and is already open to pre-subscriptions.
Norwegian Block Exchange (NBX) is a truly Norwegian cryptocurrency exchange and custodian. The Company is based in Oslo and is registered with the Financial Supervisory Authority of Norway.