Germany allows crypto assets to institutional investment portfolios

by: Dynasty GI2021-07-31
For the first time, Germany is allowing certain institutional funds to invest in cryptos as new legislation takes effect in August.
The so-called Spezialfonds with fixed investment rules will be allowed to have up to 20% of their holdings in crypto assets like Bitcoin. These funds currently manage over US$2 trillion and are only open to institutional investors.
"“Given Germany’s economic importance and its traditionally conservative approach to financial products, this is an important step in making crypto assets very much part of the investment strategy by major funds around the world”, commented Dynasty Global Investments AG’s co-founder and CEO, Fabio Asdurian."
Commenting on the changes to Germany’s spezialfond legislation, Tim Kreutzmann, an expert on cryptos at BVI, the country’s investment fund sector body, told Yahoo Finance that they expect most funds to set the exposure to below the 20% limit, especially as institutional investors like insurers must meet strict requirements for their investment strategies.

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