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Legacy German Bank to Start a Crypto Fund Next Year

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Written by   83
1 year ago

As institutions are gearing up to invest more and more into crypto currencies particularly Bitcoin and Ethereum in general. More traditional institutions like banks are starting to offer its customers a way invest into crypto by offering Digital fund.

Disclaimer: I am not your financial adviser and all information available below are for purely educational purposes. Please verify all of the Information before using it and don't make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

Hauck & Aufhäuser

A few little things about the legacy bank Hauck & Aufhauser. Hauck & Aufhäuser Privatbankiers AG is a private bank based in Frankfurt am Main.

Hauck & Aufhäuser also maintains offices in MunichHamburgDüsseldorfCologneLondonLuxembourgNanjing (China) and Shanghai (China) and focuses on the advisory and asset management of private and corporate clients as well as institutional investors and on cooperation with independent asset managers. 

The bank was created in 1998 from the merger of Georg Hauck & Sohn Bankiers in Frankfurt am Main and Bankhaus H. Aufhäuser in Munich. Since 2016 it has been part of the Chinese conglomerate Fosun.

Crypto Fund

Hauck & Aufhäuser has planned to launch a passively managed crypto fund in jan 2021 as it was announced yesterday.

The fund officially known as HAIC Digital Asset Fund I will only hold Bitcoin, Ethereum and stellar among other high capped crypto coins. The fund is aimed at high net worth investors and institutional clients. Hauck & Aufhauser has partnered with Berlin fintech player Kapilendo for the launch.

Key Takeaways

  • Investors are not limited to any particular subscription period and can invest and divest the fund at any give time.

  • However the minimum investment is currently capped at €200,000 or $243,000.

  • Also clients will also be charged the industry average of 2.05% of their investment as fees.

  • As for the investment all the crypto allocations will be based on current market caps or the market cap at the time of the fund allocation.

  • Hauck & Aufhäuser said the portfolio covers over 85% of the total market for crypto assets with that criterion in mind.

Holger Sepp, member of the Board of Hauck & Aufhäuser, announced in a statement that “We see that digital assets and cryptocurrencies are becoming increasingly attractive among institutional investors,” 

He further added that “With the launch of our first crypto fund, we have created an innovative investment vehicle that gives our customers inexpensive and secure access to the new crypto asset class while meeting the established quality standards and high demands of Hauck & Aufhäuser.”

Further in the announcement he also added that the bank has recently fiunded an investment company for incubating blockchain startups baesd in Germany.

This announcement comes as a bonus to crypto enthusiast in Germany as early this year Germany also announced that the country recognized Bitcoin as a "legal financial instrument" and also paved out several crypto regulations for the industries future.

I hope this article is helpful to u, I would like to hear your thoughts on this. If u have any doubt about investing or if u want my thoughts about a particular project pls comment down below.

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