FSIL becomes first Eurozone state fund to invest in Bitcoin
The Luxembourg Sovereign Wealth Fund (FSIL) has invested 1% of its assets in Bitcoin through an exchange-traded fund (ETF), becoming the first state fund in the eurozone to allocate capital to cryptocurrencies.
According to CoinDesk, in July this year, the local government approved an updated investment policy for FSIL, allowing up to 15% of assets to be directed toward alternative investments — including private equity, real estate, and crypto assets.
Jonathan Westhead, Head of Communications at Luxembourg’s Financial Agency, explained that the Bitcoin investment was made via selected ETFs to reduce operational risks. He added that the move reflects the growing maturity of the world’s first cryptocurrency as an asset class and Luxembourg’s ambition to maintain leadership in digital finance.
“Some may say we’re investing too little and too late. Others may argue that Bitcoin is too volatile. But given the fund’s mission, the board concluded that 1% represents an optimal balance and a signal of confidence in the asset’s long-term potential,” Westhead stated.
Luxembourg follows Norway’s example
The Luxembourg Sovereign Wealth Fund was established in 2014 to build reserves for the future. It currently manages about $730 million, most of which is invested in government bonds.
Among European states, Norway’s Sovereign Wealth Fund also has indirect exposure to Bitcoin — however, Norway is not a member of the European Union and does not use the euro as its national currency.
As we wrote, Norway $1.5 trillion wealth fund increases Bitcoin investments sharply
Latest Bitcoin News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
