Over four hundred and fifteen billion dollars worth of investments might flow into digital assets as new laws governing German Spezialfonds go into effect.
Starting on 2nd August, 2021, German institutional funds will be allowed to hold up to twenty percent of their assets in the form of digital assets, possibly setting the stage for broader mainstream espousal of BTC and other digital currencies by the country’s pension funds.
According to Bloomberg reports, the new law changes fixed investment rules governing Spezialfonds, also called special funds, which are only accessible to institutional investors like pension funds and insurers. Presently, Spezialfonds manage around two trillion dollars worth of assets.
Tim Kreutzmann, who works for German investment fund association BVI, told Bloomberg that the majority of funds will probably stay well below the twenty percent mark in the beginning. He elaborated,
“On the one hand, institutional investors such as insurers have strict regulatory requirements for their investment strategies. And on the other hand, they must also want to invest in crypto.”
Notably, Germany first embarked on a comprehensive blockchain strategy in 2019, promoting several espousal measures that are set to be realized by the end of this year. The new stratagem for blockchain and digital assets also introduced measures that would make it uncomplicated for investors to get exposure to digital investments.
The Future is Now Media Group have launched a YouTube show called The Future is Now Digest, hosted by Miguel Francis-Santiago. Together […]
April 30, 2020
PRESS RELEASE — 10,000 participants are expected to join CHAIN2020 in Hong Kong on January 15, which aims to become one of […]
December 27, 2019
Binance is expanding its Audit and Investigations team again with the hire of former Europol dark web specialist, Nils Andersen-Röed. As per […]
September 22, 2021
Moody’s Investors Service, one of the world’s largest credit-rating companies is looking to hire staff to support research on decentralised finance, central […]
September 12, 2021