{"id":335612,"date":"2021-09-06T21:56:30","date_gmt":"2021-09-06T18:56:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/german-asset-manager-union-investment-seeks-btc-exposure-for-several-funds\/"},"modified":"2021-09-06T21:56:30","modified_gmt":"2021-09-06T18:56:30","slug":"german-asset-manager-union-investment-seeks-btc-exposure-for-several-funds","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/german-asset-manager-union-investment-seeks-btc-exposure-for-several-funds\/","title":{"rendered":"# German asset manager Union Investment seeks BTC exposure for several funds"},"content":{"rendered":"

“# German asset manager Union Investment seeks BTC exposure for several funds <\/strong>”
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Union Investment, a\u00a0$500 billion asset manager, is planning to add Bitcoin (BTC) to several investment funds as part of a targeted pilot program for its institutional clients, offering compelling evidence that crypto is becoming more mainstream in Europe’s largest economy.\u00a0<\/p>\n

The Frankfurt-based institution told<\/a> Bloomberg on Monday that it is considering adding BTC to a small number of investment funds that will only be available to private investors. For each fund, Bitcoin exposure will be limited to no more than 2% of total assets. Portfolio manager Daniel Bathe said the new investment strategy is likely to commence in the fourth quarter, though no fixed timetable was given. <\/p>\n

Union Investment is the investment arm of DZ Bank Group, an institution with over 800 cooperative banks. As of June 30, Union Investment had $507 billion in assets under management, making it one of Germany\u2019s largest asset managers. <\/p>\n

Germany is quickly becoming a hotbed for crypto investments, especially among institutional players. On Aug. 2, a new law allowing institutional funds to hold crypto came into effect, setting the stage for a wider uptake of digital assets, even among German pension funds. Meanwhile, German securities broker S Broker recently announced a suite of crypto-focused product offerings.<\/p>\n

Related: <\/em><\/strong>What the SEC can learn from the German regulator<\/em><\/strong><\/p>\n

At the retail level, Germans don\u2019t rank as highly for crypto adoption, according to a recent survey by financial comparison website Finder. The 42,000-person survey estimated that only 11% of Germans had exposure to digital assets. Although that\u2019s higher than the United States and the United Kingdom, it ranked well below emerging markets and other European nations. <\/p>\n

Bitcoin is turning heads again as the first-launched cryptocurrency pushes toward $52,000. Its price has recovered roughly 79% from its summer trough. In the process, Bitcoin\u2019s total market capitalization is once again app<\/a>roaching $1 trillion. <\/p>\n