Jupiter Asset Management (JUN), the London-listed firm with assets under management of over $65.8 billion, had to scrap an investment in one of the crypto exchange-traded products (ETP) due to a compliance issue, the FT reported on Friday. Jupiter’s Gold & Silver fund had invested $2.58 million in 21Shares’ Ripple XRP ETP during the first half of 2023. The reason for the cancellation is the divergent crypto regulation in Europe. Jupiter’s Gold & Silver fund is domiciled in Ireland, where crypto investments are prohibited for UCITS funds. UCITS is a set of rules for investment funds laid out by the European Commission.
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