Germany’s Oldest Bank Introduces Cryptocurrency Fund

Hauck & Aufhäuser, one of the oldest private banks in Germany, announced that it has partnered with a Berlin-based fintech company, Kapilendo to launch its first-ever crypto fund in January next year. The fund plans to target semi-institutional and institutional investors to invest in Bitcoin and other Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

Named ‘HAIC Digital Asset Fund I’, the upcoming fund will charge an approximately 2% fee on the total volume. According to a report published on Fundview, the minimum amount for subscription is 200,000 euros, and the portfolio plans to cover around 85% of the total cryptocurrency asset market.

Additionally, the bank outlined the investment strategy, which will be based on the allocation of funds depending upon the market capitalization of cryptocurrencies along with some qualitative and quantitative tools. There is no limit on the subscription period of the fund.

Commenting on the announcement, Holger Sepp, Member of the Board of Hauck & Aufhäuser, said: “We see that digital assets and cryptocurrencies are becoming increasingly attractive to institutional investors. With the launch of our first crypto fund, we have created together with Kapilendo an innovative investment vehicle that enables our customers a cost-effective and secure access to the new asset class Krypto, while complying with the established quality standards and high standards of Hauck & Aufhäuser.”

German Crypto Market

The latest announcement by Hauck & Aufhäuser is another step towards mainstream crypto adoption in Germany. The German Finance minister urged ECB to take decisive measures for the launch of the digital euro. Despite some regulatory hurdles in the adoption of crypto assets in Germany, many startups emerged to lead to the digital transformation of the German economy. The Frankfurt-based bank partnered with financial services firm, Kapilendo to expand its investment services with the inclusion of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, Ethereum, Ripple, Stellar and other digital assets.

Finance Magnates earlier reported that Germany’s regulatory authority BaFin made it mandatory for crypto ATM providers to obtain a license.