Over the last few weeks, I read a lot about the possible future success of European Long-Term Investment Funds (ELTIF) under the revised ELTIF 2 regime. In fact, it looks like the European fund industry is really appreciating the changes in the reviewed regulation since these changes give fund managers more flexibility and enable them to sell their ELTIF funds as cross-border products labelled as Alternative Investment Funds (AIF) to retail investors throughout the European Economic Area (EEA). Yes, you read that right—ELTIF 2 products can be sold to retail investors which raises the question of whether this is really

After the approval for spot Bitcoin ETFs on January 10, 2024, the Securities and Exchange Commission (SEC) has approved a rule change that allows exchanges to list spot Ethereum ETFs in the U.S. on May 23, 2024. Nevertheless, the rule change will not lead to an immediate listing of Ethereum ETFs, since every single product needs its own approval from the SEC. This approval means that the U.S. is catching up with the European crypto ecosystem where Bitcoin, Ethereum, and other cryptocurrencies are available to all kind of investors via structured notes, so-called exchange traded notes (ETN). Obviously, there are

On January 30, 2024, the HM Treasury has confirmed that European Economic Area (EEA) states will be considered as “equivalent” under the new Overseas Fund Regime (OFR) for UCITS, excluding money market funds. The OFR is expected to be rolled out in April 2024 to replace the Temporary Marketing Permission Regime (TMPR) within a prolonged transition period until December 2026 to smoothen the transition. The new OFR shall remove post-Brexit barriers for newly launched EU-domiciled funds and ETFs to enter the U.K. market when the products meet the necessary retail disclosure requirements. Even further, the U.K. government does not intend