Asset management firm Jupiter’s compliance team blocks cryptocurrency ETP investments

London-listed Jupiter Asset Management’s compliance department blocked its investment team from holding a cryptocurrency exchange-traded product (ETP) in its Irish Ucits fund, the Financial Times reported, underscoring the growing tensions between crypto and crypto within the European Union. Inconsistency in asset regulation. Ireland does not allow Ucits funds to invest in cryptocurrencies, while German regulators take a different approach. Despite this inconsistency, some fund managers seek to hold crypto assets in funds. The firm’s Gold & Silver fund made a $2.58 million investment in the XRP ETP in the first half of 2023, which was later cancelled. According to financial statements, Jupiter sold its cryptocurrency ETP holdings for $2,570,670, resulting in a loss of $834.