• Sun. Jun 23rd, 2024

Oldest Bank in Germany will Launch Cryptocurrency Fund in January 2021

Christian Klausen

ByChristian Klausen

Dec 7, 2020

A German bank with a history of two centuries is going to launch a cryptocurrency fund for institutional investors.  The semi-institutional investors can also enjoy the crypto fund of Hauck & Aufhäuser.

Hauck & Aufhäuser is one of the oldest banks in Germany that is going to enter into the crypto space. With each new day, financial institutions, such as commercial banks, are joining the crypto race that has become unstopped.

HAIC Digital Asset Fund I

As per the report published by FundView, fintech firm Kapilendo will be engaged with the Hauck & Aufhäuser Innovative Capital GmbH to roll out a fund known as HAIC Digital Asset Fund I in 2021.

At the time of launch, the fund will only support three digital currencies, including Bitcoin, Ethereum, and Stellar. As per the given information, fees are set at 2.05% of the total volume of the fund. According to Hauck & Aufhäuser’s board member Holger Sepp:

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“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.”

The allocation of the crypto assets will be based on certain things such as qualitative and quantitative standards and current market cap. Kapilendo Invest AG will be engaged with Hauck & Aufhäuser for the processes of selling the fund to the interested institutional and Semi-institutional clients. For portfolio management, Hauck & Aufhäuser Innovative Capital GmbH would assist people as it is known as a prominent capital management firm in the markets while for crypto deposits, Kapilendo will offer its services.

The plan of the cryptocurrency fund is not the first initiative of Hauck & Aufhäuser in the field of cryptocurrency. In Germany, it recently rolled out an investment firm that was launched especially for crypto assets.

Sven Hildebrandt, prominent blockchain expert, seems very optimistic about the incoming crypto fund. According to him, we will see a lot of potential and interest in digital assets in the coming days.

Commercial banks are now entering the crypto space at a slow pace, but soon, crypto will take over the financial world, and the physical economy will be replaced with the digital economy. But there is only one hurdle as no clear crypto regulation has seen in the world, but the governments are tirelessly working over it.

Christian Klausen

Christian Klausen

Christian Klausen is a talented news writer renowned for his compelling storytelling and comprehensive research. With a sharp eye for detail, his articles offer readers a thought-provoking and well-informed perspective on a wide range of current topics.

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