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Operational Best Practices for Digital Asset Fund Managers
Institutional investor means any:
a bank, savings and loan association, insurance company or registered investment company;
an investment adviser registered either with the SEC or with a state securities commission (or any agency or office performing like functions); or
any other person (whether a natural person, corporation, partnership, trust or otherwise) with total assets of at least $50 million.
governmental entity or subdivision thereof;
a FINRA member or registered person of such a member; and
person acting solely on behalf of any such institutional investor.