The German private bank Hauck Aufhäuser has announced its first cryptocurrency fund, the HAIC Digital Asset Fund I.which will be released on January 1, 2021.
According to a report by FundView, The initiative, a collaboration with the Berlin fintech Kapilendois aimed at institutional and semi-institutional investors who want to invest in a portfolio of crypto assets, including Bitcoin (BTC), Ether (ETH) and Stellar (XLM).
The fund pursues a passive investment strategy. with a crypto allocation rate based on market capitalization and other criteria. According to the company, the portfolio will cover 85% of the total market for crypto assets.
The minimum investment in the fund is EUR 200,000.The term of the fund is unlimited 2.05% of the fund volume.
Kapilendo will serve as a repository for cryptocurrencies. Hauck Aufhäuser is responsible for fund management. A board member, Holger Seppexplained that The institutional interest in cryptocurrencies in Germany is growing::
“We are seeing that digital assets and cryptocurrencies are becoming more and more attractive for institutional investors. With the launch of our first crypto fund, together with Kapilendo, we have created an innovative investment instrument that offers our customers affordable and secure access to the new class of crypto assets and at the same time meets established quality standards and high requirements. by Hauck Aufhäuser “.
As Cointelegraph reported last week, Stone has Ridge’s digital assets subsidiary NYDIG, recently raised $ 150 million in two crypto mutual funds.
Despite the SEC’s ongoing refusal to approve a Bitcoin ETFinstitutional investors have more and more funds available to enter the cryptocurrency market.