The Digital Asset Fund I from Hauck & Aufhäuser is intended to cover 85 percent of the entire crypto market.
The German private bank Hauck & Aufhäuser announced that it wanted to offer its first crypto fund. The HAIC Digital Asset Fund I is scheduled to be launched on January 1, 2021
According to a report on FundView, this collaboration with Berlin-based fintech company Kapilendo is aimed at institutional and semi-institutional investors who want to invest in a portfolio of crypto assets, including Bitcoin Bank, Ether ( ETH ) and Stellar ( XLM ) .
The fund pursues a passive investment strategy, whereby the allocation of the crypto values is based on the current market capitalization and other criteria. According to the company, the portfolio will cover 85 percent of the total market for crypto assets.
The minimum investment in the fund is EUR 200,000 and the subscription period is unlimited. The total ongoing fees for the fund are 2.05 percent of the fund volume
Kapilendo will act as a crypto depot and Hauck & Aufhäuser will be responsible for fund management. Board member Holger Sepp stated that institutional interest in crypto is growing in Germany:
„We are seeing that digital assets and cryptocurrencies are becoming increasingly attractive among institutional investors. With the launch of our first crypto fund, we and Kapilendo created an innovative investment vehicle that gives our customers inexpensive and secure access to the new crypto asset class, including the established one Meets the high quality standards and high demands of Hauck & Aufhäuser. “
As Cointelegraph reported last week , Stone Ridge’s digital assets subsidiary NYDIG recently raised $ 150 million in two crypto mutual funds.
The SEC continues to refuse to approve a Bitcoin ETF. Nevertheless, more and more vehicles are coming onto the market for institutional investors to enter the crypto market.