Crypto Asset Funds in Malta under MiCA (2026)

Malta is one of the leading EU jurisdictions for establishing regulated crypto asset funds, particularly following the implementation of the Markets in Crypto-Assets Regulation (MiCA).

Launching a crypto fund in Malta requires compliance with both:

• EU-wide MiCA regulation

• Malta Investment Services Act (fund legislation).

This dual framework governs how crypto assets, including Bitcoin, stablecoins, and digital tokens, can be legally held and managed within an investment fund structure.

Fiducorp supports institutional clients and family offices in the structuring, licensing, and regulatory approval of crypto asset funds in Malta.

Malta's financial district with blockchain visuals

What are Crypto Asset Funds?

A crypto asset fund is a regulated investment vehicle that allocates capital into digital assets such as:

• Bitcoin and major cryptocurrencies

• Stablecoins

• Tokenised real-world assets

• Blockchain-based financial instruments

• DeFi-related strategies

These funds are typically structured for professional and institutional investors.

Regulatory Framework for Crypto Asset Funds

MiCA Regulation

MiCA is the primary EU regulation governing crypto assets and applies directly in Malta. It regulates:

• Crypto-asset service providers (CASPs)

• Custody of digital assets

• Portfolio management involving crypto assets

• Issuance of stablecoins

• Crypto trading and exchange services.

Key impact on crypto funds:

• Crypto assets such as Bitcoin are regulated under MiCA classification rules

• Only licensed service providers may be used

• Custody/safekeeping of assets must be provided by authorised CASPs

• Stablecoins are subject to strict reserve and redemption rules.

Investment Services Act

All investment funds in Malta must be structured under the Investment Services Act. Crypto asset funds are typically formed as Alternative Investment Funds (AIFs) or Professional Investor Funds (PIFs).

The ISA regulates:

• Fund authorisation by the MFSA

• Fund manager licensing

• Governance and compliance structures

• Investor protection and disclosure requirements.

Stablecoin Regulation under MiCA

Stablecoins are classified under MiCA as:

• E-Money Tokens (EMTs)

• Asset-Referenced Tokens (ARTs)

Examples include:

• USDC

• USDT

Regulatory requirements:

• EU-authorised issuance entities

• Full reserve backing requirements

• Mandatory redemption at par value

• Continuous prudential supervision.

What Assets can a Crypto Fund hold in Malta

• Bitcoin and major cryptocurrencies

  • Bitcoin

  • Ethereum and other large-cap digital assets

  • Institutional crypto baskets

• Stablecoins, used for liquidity, hedging, and trading efficiency under MiCA compliance.

• Tokenised Assets

  • Real-world asset (RWA) tokenisation

  • DeFi protocols

  • Blockchain-based financial instruments.

Steps to Launch a Crypto Asset Fund with Fiduscorp in Malta

• Choose Fund Vehicle - AIF or PIF and can be self-managed, meaning having the Fund Manager within the SICAV itself

• Crypto Service Providers

  • Custodians (licensed CASPs)

  • Portfolio managers

  • Crypto exchanges

• Compliance Framework

  • AML/CFT compliance under EU directives

  • Risk management policies

  • Valuation of digital assets

  • Investor reporting obligations

How to Start a Crypto Asset Fund in Malta (step-by-step)

Step 1: Fund Structuring

• Define investment strategy (Bitcoin, crypto portfolio, stablecoins)

• Select fund type (AIF or PIF)

• Define investor profile (institutional/professional investors)

Step 2: Regulatory Classification

• MiCA classification of crypto assets

• Determination of CASP obligations

• Legal structuring under Maltese law

Step 3: Licensing Preparation

• Fund prospectus drafting

• AML/KYC framework

• Risk management systems

• Custody/safe-keeping structure design

Step 4: MFSA Application submission

Step 5: Operational Setup

• Custody/safe-keeping onboarding

• Exchange integration

• Banking and fiat infrastructure

• Compliance systems implementation

  
  

Step 6: Ongoing Compliance

• MiCA reporting obligations

• AML transaction monitoring

• NAV valuation for crypto assets

• Investor reporting.

Why Malta for Crypto Asset Funds?

Malta remains a leading jurisdiction due to:

• Early mover in regulation of Crypto Assets and Funds

• Full EU market access via MiCA passporting

• Clear regulatory framework for crypto funds

• Established MFSA oversight

• Legal certainty for digital asset classification

• Access to European institutional capital.

Why Fiduscorp for Crypto Asset Funds?

Fiducorp provides end-to-end structuring and other services for crypto asset fund formation in Malta. It also operates it own PIF SICAV for easier structuring on an established platform, including banking, crypto exchange and with a professional and experienced team to complement you.

Services include:

• Crypto asset fund structuring

• MiCA regulatory compliance

• MFSA licensing support

• AIFM and fund governance setup

• Custody/safe-keeping and operational framework design

• Tax structuring

• Institutional readiness and fundraising preparation.