The EFRI Fund is structured like other ETF’s with a “assets holding entity” and a “funds management” entity. Even though it is not yet applicable, it is planned to apply for an AIFM license (or the “light” version) for the Fund Management entity soon.
The shares of the EFR FUND will be tokenized, i.e. each EFRI token represents one share of EFRI Digital Asset Holding Ltd (“EFRI Fund”) with all rights and obligations. Each EFRI token issued is a proxy for each share issued thus covered by one share of EFRI FUND. The shares will be tokenized via a Smart Contract on the Ethereum blockchain in the beginning. The Austrian EFRI MANAGEMENT GMBH is the management company for the EFRI Fund (“EFRI Management”).
Structure and network behind the EFRI FUND are set up to address potential institutional investors and retail investors across different jurisdictional and regulatory regimes.