In January, the Hauck & Aufhäuser private German banking will start a crypto-investment scheme for people to invest.
Establishing a fund will help institutional and semi-institutional investors buy currencies, including bitcoin, ether, and stellar.
Major Updates
- The Frankfurt bank is partnering with Kapilendo to create the fund dubbed HAIC Digital Asset fund
- Frankfurt bank will run the scheme, while Kapilendo serves as a treasury for the cryptocurrencies.
- The Foundation's minimum contribution is EUR 200,000 ($242,000)
There is no cap on the fund's investment duration, it has specified, and payments of 2.05 percent would be paid on the cumulative value of the fund.
Hauck & Aufhäuser has announced that the portfolio aims to cover about 85 percent of the overall demand for cryptocurrency assets. The 224-year-old bank, one of the first in Germany, stated it would follow a passive investing policy that would distribute funds based on the virtual currency market cap and other variables.
Holger Sepp, chairman of the Hauck & Aufhäuser team, explained: "There is a growing appeal to digital assets and cryptocurrencies with institutional investors."
"With our launch of the first crypto fund, we have designed an innovative finance medium with Kapilendo that provides our clients cheap and better accessibility to our new currency asset category ― while meeting Hauck & Aufhäuser's developed quality calls and high demands," said Sepp.
Hauck & Aufhäuser, as Gebhard and Hauck were founded in 1796. In 1998, the Bankhaus H. Aufhäuser was combined with the new business in Munich. Hauck & Aufhäuser has offices in Germany, Great Britain, Luxembourg, China, and Hong Kong, focused on advising and wealth management of private and corporate customers. It the majority-owned by the Chinese conglomeration Fosun International.
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