Ancient German bank launches crypto fund

Germany's oldest traditional bank Hauck & Aufhäuser plans to launch a cryptocurrency fund in early 2021.

In September of this year, the bank acquired a capital management license for its subsidiary investment company Hauck & Aufhäuser Innovative Capital (HAIC) GmbH.

The crypto fund will be listed through a subsidiary of HAIC in January 2021. Activities will focus on Bitcoin (BTC), Ethereum (ETH) and Stellar (XLM).

HAIC will cooperate with Berlin's digital banking platform Fintech Kapilendo.The platform will be opened to institutional and semi-institutional investors.

The minimum investment is 200,000 euros and the commission is 2.05%.

Member of the Board of Hauck & Aufhäuser Holger Sepp noted:

"We see that digital assets and cryptocurrencies are becoming more attractive to institutional investors.With the launch of our first crypto fund, we, together with Kapilendo, have created an innovative investment mechanism that providesour customers have cost-effective and secure access to a new class of crypto assets."

Example with Hauck & Aufhäuser shows the rapid growth of cryptocurrency investment in Germany. The country wants to become a global superpower in a growing industry.

In November 2019, German regulators lifted the previous legal bans from banks on cryptocurrencies, which contributes to theindustry development in the country.

In August 2020, the German Ministry of Finance also introduced a billabout the possibility of transferring packaged securities to tokens.

</p></p>