Hauck & Aufhäuser to launch bitcoin investment fund in January 2021

Hauck & Aufhäuser to launch bitcoin investment fund in January 2021
  • The move is expected to allow semi-institutional and institutional investors to invest in digital assets such as ether, bitcoin, and stellar.
  • Minimum investment limit in the fund would be somewhere around USD 242,000 or 200,000 euros.

Amidst the ongoing trend of crypto currency, German private banks- Hauck and Aufhäuser has announced its plans of launching a crypto investment fund in January next year. It has been apprehended that this strategic move would enable institutional and semi-institutional investors to invest significantly in digital assets like stellar, ether, and bitcoin.

Credible reports have suggested that the Frankfurt-based bank is looking forward to holding a partnership with Kapilendo- a local fintech company, in an effort to establish the fund ‘HAIC Digital Asset Fund I’. In addition to this, Hauck & Aufhäuser is expected to manage the funds while Kapilendo would act as the crypto asset reservoir.

It has been claimed that the minimum investment in the fund would be around 200,000 euros or USD 242,000. However, there is no limit on the subscription period of the fund, and the fees of 2.05% is anticipated to be charged in the total fund volume.

Speaking on this novel move, Holger Sepp- board member of Hauck & Aufhäuser – cited that the company is currently studying the outgrowing trend of digital assets and cryptocurrencies around the globe and how essential they have become amongst institutional investors.

He added that with the launch of its first crypto fund, in partnership with Kapilendo, the firm has created an innovative investment vehicle which would offer its customers an inexpensive and secure access to the new crypto asset class while adhering to the established quality standards and high demands of Hauck & Aufhäuser.

This apart, the private bank has revealed that it was planning for the portfolio to cover around 85 per cent of the overall cryptocurrency asset market. Moreover, the bank, which is one of the oldest in Germany, is estimated to pursue a passive investment strategy to allocate funds depending on the virtual currency’s market cap and several other parameters.

Source Credit: https://news.bitcoin.com/german-bank-launch-bitcoin-investment-fund-january/