Jupiter cancels Ripple XRP ETP investment after self-compliance inspection: FT

London-headquartered asset manager Jupiter Asset Management canceled its investment in an XRP exchange-traded product due to compliance issues, the Financial Times reported Friday.

The company reportedly canceled the ETP investment as Irish authorities do not allow crypto exposure in funds governed under UCITS, which stands for Undertakings for the Collective Investment in Transferable Securities. UCITS is a regulatory framework that established rules for selling mutual funds across European Union member states.

Ireland, France and UK regulators have said that UCITS funds cannot invest in crypto assets. Meanwhile, Germany allows UCITS funds to invest in crypto ETPs, under circumstances that the product reflects the crypto asset’s value on a one-to-one basis.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

XRP price drops slightly as SEC v. Ripple lawsuit heads towards end of discovery phaseXRP price climbed 3.70% in the past week and declined slightly on Monday as the SEC v.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Texas Abortion Ban's Ripple Effect on Medical Care for Pregnant PeoplePregnant patients face medical uncertainty and risks, from hyperemesis gravidarum to cancer treatment.
Source: truthout - 🏆 69. / 68 Read more »

Tron Founder Justin Sun Reflects on Historical Connections With Ripple and Vitalik ButerinTron founder Justin Sun unveils intriguing past with Ripple and Ethereum's Vitalik Buterin
Source: Utoday_en - 🏆 295. / 63 Read more »

Earth Isn't Flat, But New Theory Suggests Jupiter Might Once Have BeenThe Best in Science News and Amazing Breakthroughs
Source: ScienceAlert - 🏆 63. / 68 Read more »

Want to Retire Early? Consider These Costs Before Calling it Quits.An early workforce exit may have ripple effects across your financial life. What to know.
Source: MarketWatch - 🏆 3. / 97 Read more »

Radio Telescope Confirms Free-Floating Binary Planets in the Orion NebulaJuMBOs (Jupiter-Mass Binary ObjectS) in the Orion Nebula and the Trapezium Cluster challenge our understanding of how planets form.
Source: universetoday - 🏆 297. / 63 Read more »