Recent developments in Malaysia include the launch of the Performa Digital Asset Fund by Cross Light Capital and Affin Bank, Malaysia's first digital asset fund. The fund aims to offer exposure to digital assets through ETFs and ETPs to premier banking clients, exclusively accessible via Affin Bank's Affin Invikta suite. Notable investments in the fund encompass Bitcoin, Ether, and blockchain-related entities like Coinbase Global Inc. and Ubisoft Entertainment SA. Cross Light Capital's investment strategy allocates one-third of the fund to bitcoin ETPs, another third to ether ETPs, and the remainder to equities tied to blockchain initiatives.

The fund, managed actively by Cross Light Capital, caters to sophisticated investors with a high-risk tolerance, projecting potential drawdowns of 30% to 60% within a year and advocating for long-term investment horizons of five to ten years. Investors are required to commit a minimum of US$1,000 initially, with an upfront sales charge up to 5% and an annual management fee of 2%, while withdrawals are fee-free. The fund's trustee is MTrustee Bhd, with Crowe Malaysia PLT as the external auditor, and Interactive Brokers LLP as the prime broker and custodian. Affin Bank's Wealth Management Head, Calvin Goon Cheng Yu, emphasizes the bank's dedication to providing value by enabling access to Cross Light Capital's digital asset fund.

Additionally, Malaysian authorities recently cracked down on a forex investment fraud and cryptocurrency syndicate operating in the country. Following raids across the Klang Valley, eight men and two women were apprehended, and significant assets were confiscated. April marked a decline in crypto-related losses from hacks and scams, with total losses estimated at around $25.7 million.