Madrid/Luxembourg—Global law firm Dentons has advised Spanish-headquartered Miralta Asset Management – an AFIM owned by the investment bank Miralta Finance Bank AS – on the launch of the Miralta Crypto Fund, marking the first Spanish asset manager that has been authorized to manage a Luxembourg vehicle with direct investment in cryptocurrencies.

The Miralta Crypto Fund SCSp SICAV-RAIF is a Luxembourg investment fund established under the European Union’s Alternative Investment Fund Managers Directive (AIFMD) and registered with the National Securities Market Commission of Spain (CNMV).

The fund will allow institutional and professional investors access to between 12 and 20 of the world’s most important cryptocurrencies. To manage volatility and risk often associated with cryptocurrencies, Miralta is working with recognized global providers including State Street Corporation as depositary, administrator and transfer agent, EY as auditor, Copper and Coinbase as custodian, and Dentons as legal advisor.

A cross-border Dentons team advised Miralta on the fund creation, financial regulatory compliance and authorizations, as well as tax structuring. Madrid-based partner Jesus Mardomingo led the team, which included associate Lola Noguera in Madrid, as well as partner Jean Luc Fisch, counsel Maria Rodriguez, senior associate Alessandro Turcato, and associate Dounia Belkadi in Luxembourg.

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