The Malta Financial Services Authority (MFSA) approved in principle the application of Iconic Funds for the launch of the Encrypted Assets Index Fund. The fund's goal is to become one of the world's first fully regulated crypto funds and provide investors with the same high quality assurance as traditional financial markets. The fund has been approved in principle and is expected to be open to qualified investors in the third quarter of 2019. The fund invests in the top 20 crypto assets in the market capitalization, providing a passive and diversified risk exposure for the growth of the crypto asset market through an indexation strategy. Iconic Funds intends to continue to add new encryption investment products to its portfolio, and will soon launch encryption products traded on exchanges such as ETNs and ETFs, starting in the fourth quarter.