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Jupiter forced to divest crypto ETP holding on compliance team demands
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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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