The firm will have to hold more than $116 million in AUM. : Prime Factor Capital, a London-based crypto asset management firm, has received approval from the Financial Conduct Authority (FCA) to operate as a full-scope alternative investment fund manager, according to a Bloomberg report. It is the first crypto-focused hedge fund approved by the United Kingdom’s market watchdog. The company will operate under the guidelines of the European Union and will be allowed to hold more than 100 million euros ($116 million) in asset under management (AUM).