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End2End Newsletter | Q1 2024

Tax & Audit Acumen for Investment Funds

Welcome to the second issue of End2End, our newsletter aimed at helping you better understand the overall impact of developments and trends across the investment funds landscape.

This issue explores the trending topic of spot bitcoin ETFs, as well as the impact of impending changes to the custody rule and the use of blocker entities in registered funds to gain exposure to commodities and other non-traditional assets.

Industry Trends

How are Spot Bitcoin ETFs Taxed?

Jay Laurila

Author: Jay Laurila

The SEC recently approved the listing and trading of 11 spot bitcoin exchange-traded products. These products, known as spot bitcoin ETFs, began trading on January 11 of this year. Now that they are officially on the market, a natural — and important — question is, how will they be taxed?

Read More >>

The listing and trading of spot bitcoin ETFs is an opportunity for investors seeking bitcoin exposure. Because of their unique structure, though, both fund managers and shareholders should give careful consideration and conduct proper planning when embarking on this nascent asset class.

Tax Considerations

How Blocker Entities Can Help Regulated Investment Companies Expand Their Portfolios

Claire Toraason

Author: Claire Toraason

Regulated Investment Companies (RICs) are popular investment vehicles, but they are restricted in the types of investments they can make. The use of blocker entities is a strategy that allows RICs to invest in non-traditional assets otherwise not allowed, helping RICs expand their investment portfolios.

Read More >> 

"Subsidiary blockers can provide a viable path for RICs to access alternative investments that would otherwise not fit within the RIC investment universe due to potential non-qualifying income."

Industry Trends

3 Ways Changes to the Custody Rule Could Impact Your Accounting Services

Mike Meckstroth


Author: Mike Meckstroth

As we wait to see if changes are adopted to the custody rule, it’s a safe bet in situations where RIAs maintain custody they will need to be working more with their independent public accountants. There are three key takeaways from the proposed rule to have on your radar.

Read More >> 

It’s important that RIAs digest these final rules soon, with the help of legal counsel, to ensure they have an independent public accountant engaged and are performing the necessary services to comply with this redesignated rule.

Cohen & Co Recognized by With Intelligence

Cohen & Co received the distinction of “Best Accounting and Audit Services” in the 2024 With Intelligence Fund Operations and Services Awards. 

The annual awards ceremony recognizes and rewards fund service providers who have demonstrated exceptional client service, innovative product development, and strong and sustainable business growth. 

The “Best Accounting & Audit Services” category honors accounting and audit firms that have excelled in client services over the past 12 months. Success in this category is determined by customer growth and business success, new investment in technology and infrastructure, and forward-looking plans on how to create smooth client interfacing and client interaction. 

Visit With Intelligence’s website to view the full list of winners.  

 

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