The German Asset Manager Union Invest considers to broaden its adoption of crypto after experimenting with Bitcoin certificates and now considers adding more BTC to its funds as we are reading more in our latest Bitcoin news today.
The German asset manager Union Invest is the investment arm of the DZ bank group which is taking another small step towards offering crypto investments to private investors. They will make BTC a smaller percentage of some of their funds. As reported recently, portfolio manager David Barthe said that teh company is considering adding BTC to their funds in smaller amounts, comprising 1-2% of their portfolios and this will be starting an unknown date in Q4. this came after the company included crypto within a mixed fund called Private Funds Flexible Pro for the first time this year which came in the form of a Delta 1 certificate and gives investors more exposure to the asset as if they were to own the asset themselves.
Kamil Kaczmarski who is a consultant for financial service providers at Oliver Wyman said that his company noticed bigger interest among the mixed fund managers in crypto as of late and Union Invest now has about $500 billion in assets under management. Developments like those at the asset manager are one of the many which are making exposure to cryptos easier for the average person. S Broker also issued a combination of 40 BTC certificates, ETFs, stocks, and more, allowing customers to invest in a wide array of crypto assets.
With that said, access to a Bitcoin ETF in the US will need to wait as the SEC has no plans to approve these to an institution and could even wait until 2023 before considering that as a priority. There are other ways of spreading BTC exposure however as the ATM installations are now soaring in the past few months, offering the owners a familiar method for buying or selling BTC. According to the sats, most of these installations were taking place in the US.
As recently reported, Germany’s institutional funds will be able to allocate up to 20% of their portfolios and according to the new law coming into effect a week later, some German investment funds will be able to hold up their portfolio in digital assets which comes amid growing demand from various institutions to the industry. Spezialfonds- the German investment funds with fixed rules will be able to allocate about 20% of their holdings in digital assets and those funds manage around 1.8 trillion euros or $2.1 trillion and can be accessed by local institutional investors like pension companies or insurance companies.
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