Jupiter was forced to divest its position in a crypto ETP following demands from its compliance team, owing to Irish regulations banning the inclusion of cryptoassets in UCITS funds.
In the first half of 2023, the investment team of the firm's Ireland-domiciled €565mn Gold & Silver fund, managed by Ned Naylor-Leyland, Joe Lunna and Chris Mahoney, bought into 21Shares' Ripple XRP ETP for £2,571,504. The asset manager's compliance department picked up the holding through a "regular oversight process", and the managers then sold it for $2,570,670 at a loss of $834. A Jupiter spokesperson told the FT the fund has since "made up the difference". Retail access to crypto ETFs to face Consumer Duty hurdles even if 'unlikely' UK approval granted "There was no regulatory...
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