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Private German Bank to Launch Cryptocurrency Fund
Hauck & Aufhauser is launching a cryptocurrency fund in January 2021.
Private German bank Hauck & Aufhauser is launching a cryptocurrency fund in January 2021.
STORY CONTINUES BELOW
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- According to an announcement on Thursday, the HAIC Digital Asset Fund will be aimed at institutional clients and hold a number of cryptocurrencies such as bitcoin, ether and stellar. The minimum investment will be €200,000 (US$243,000).
- Frankfurt-headquartered Hauck & Aufhauser said it has seen digital assets and cryptocurrencies become increasingly attractive to institutional investors.
- The fund managers will take a passive investment strategy while the cryptocurrency allocation will be based on the current market capitalization.
- The bank is teaming up with the custody arm of Berlin-based fintech company Kapilendo, which will manage the secure storage of the crypto assets in the fund.
- The crypto fund is one of the first to be launched by a private bank for high-net-worth individuals and institutional investors.
See also: Private Swiss Bank Rolls Out New Premium Crypto Trading Service
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
