Jupiter Asset Management (JUN) had to cancel its investment in XRP products due to Ireland’s crypto investment regulations, suffering a loss of $834, CoinDesk reported. The London-based firm manages more than $65.8 billion in assets. Jupiter had to abandon its investment in a crypto exchange-traded product (ETP) due to compliance issues, the Financial Times reported on Friday. Jupiter’s Gold & Silver Fund invested a total of $2.58 million in 21Shares’ Ripple XRP ETP in the first half of 2023. However, the investment was flagged during the company's "regular oversight process" and canceled after a loss of $834. The reason for the cancellation was the inconsistency of crypto regulation in Europe. Jupiter’s Gold & Silver funds are domiciled in Ireland, which prohibits crypto investments in Ucits or tradeable investment funds. Other European jurisdictions such as Germany allow investment funds to hold cryptocurrencies. Jupiter’s crypto investment woes highlight the need for a unified crypto investment framework, especially as the launch of spot crypto products in the U.S. fuels the crypto market’s latest bull run. Jupiter did not immediately respond to CoinDesk's request for comment.