The German private bank Hauck & Aufhäuser has announced its first crypto fund, HAIC Digital Asset Fund I, which was launched on 1 January 2021.
According to a FundView report, this initiative, in collaboration with Berlin-based fintech Kapilendo, will target institutional and quasi-institutional investors looking to invest in a portfolio of cryptocurrencies, including Bitcoin (BTC), Ether (ETH) and Stellar (XLM)). ).
The fund will follow a passive investment strategy with a distribution ratio for cryptocurrencies based on market value and other criteria. According to the company, the portfolio will cover 85% of the entire crypto asset market.
The minimum investment in the fund is 200,000 euros (242,000 US dollars), without limiting the subscription period, and the total recurring commission for the fund is 2.05% of the fund’s size.
Kapilendo will act as the crypto vault, and Hauck & Aufhäuser will be responsible for fund management. Board member Holger Sepp explained that institutional interest in cryptocurrency in Germany is increasing:
“We are seeing digital assets and cryptocurrencies become more and more attractive to institutional investors. With the launch of our first cryptocurrency fund, together with Kapilendo, we have created an innovative investment tool that gives our customers affordable and secure access to a new class of crypto activities, while complying with current quality standards and high Hauck & Aufhäuser requirements.
Cointelegraph also reported last week that NYDIG, a subsidiary of Stone Ridge’s digital assets, recently raised $ 150 million in two cryptocurrency funds.
Despite the SEC’s persistent refusal to approve Bitcoin ETFs, more funds are available for institutional investors to enter the crypto market.