Private German bank Hauck & Aufhauser announced plans to launch a cryptocurrency fund in January 2021. The HAIC Digital Asset Fund will target institutional clients.
Digital assets are becoming increasingly attractive to institutional investors. According to the bank, the fund will support several cryptocurrencies, including BTC, ETH and XLM, and the minimum investment amount will be €200,000.
The fund manager will adhere to a passive investment strategy, while the distribution of the cryptocurrency will be based on the current market capitalization.
The bank is working with Berlin-based fintech company Kapilendo to ensure the safe storage of crypto assets in the fund. HAIC Digital Asset Fund will be one of the first cryptocurrency funds created by a private bank for institutional investors.
Recently, Grayscale Investments announced that it will split the shares of the Ethereum Trust fund (ETHE) in a ratio of 9:1. This will increase the liquidity and availability of shares for retail investors.
In addition, New York Digital Investments Group (NYDIG) has raised $150 million to launch two new cryptocurrency funds. The money was received from three institutional investors.