200-yr Old Traditional German Bank Set to Launch Crypto Fund in 2021
Hauck & Aufhäuser–a 200-year old German private bank, in partnership with Kapilendo–a Berlin-based Fintech, is launching HAIC Digital Asset Fund I in January 2021 according to a press release on Dec 3.
It is a cryptocurrency fund for high net-worth and institutional investors. Investment fees will be at the industry’s standard of 2.05 percent.
Crypto Fund for High Net-worth and Institutional Investors
According to Dr. Holger Sepp, a board member of the private bank, this is due to increasing institutional interest in digital assets.
The fund is an “innovative vehicle” for clients who need secure, cheap, and quality exposure to crypto-assets.
Starting from €200k, HAIC Digital Asset Fund I will diversify client’s portfolios.
“We are seeing that digital assets and cryptocurrencies are becoming increasingly attractive with institutional investors. With the launch of our first crypto fund, together with Kapilendo, we have created an innovative investment vehicle that gives our customers inexpensive and secure access to the new crypto asset class while meeting the established quality standards and high demands of Hauck & Aufhäuser.”
Kapilendo will take custody of ETH, Bitcoin, and Stellar, the three high market cap cryptos that make up the fund.
Public Companies have invested Billions in Bitcoin
Institutions are flocking to Bitcoin.
According to Bitcoin Treasuries, different public companies now manage over $16.3 billion worth of BTC with a big chunk under MicroStrategy. The business intelligence firm bought $475 million worth of Bitcoin in September.
Other noteworthy investors include Square and Mode Banking.
Citing the security of Bitcoin as a tool against hyperinflation, their decision of incorporating the volatile digital asset as part of their strategic investment is paying off.
Already, MicroStrategy’s ROI is up nearly 100 percent, roughly two months after involvement.
Shark Tank Billionaire Star will invest if Bitcoin Has Support from Governments
As per a BTCManager report, millionaire investor, Kevin O’Leary, said he will invest 20 percent of his net worth only if Bitcoin has the support from governments and regulators.
Earlier on, he had dismissed the digital asset saying it was not “a real currency.” Later, he explained that he had nothing against Bitcoin since he was only critiquing the coin to understand how it works.
