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U.K. Regulators Approve a Crypto Hedge Fund for First Time

Inside The Crypto Investor Show
Photographer: Mary Turner/Bloomberg

Prime Factor Capital Ltd., a London-based hedge fund manager set up by former employees of BlackRock Inc. and RWE AG, became the first investment firm focused on cryptocurrencies to win the stamp of approval from U.K. regulators.

The company said in a July 1 statement it will be regulated as a full-scope alternative investment fund manager under European Union rules. That will allow the firm to manage more than 100 million euros ($113 million) in assets and target institutional investors, the company said.