A well-known German asset manager wants to open his funds to Bitcoins

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The asset manager Union Investment, based in Frankfurt, is testing a pilot program with exhibition certificates at the Bitcoin.

He revealed it Bloomberg.

If the program is successful, the news agency writes, the asset manager will open exposure to Bitcoin to other funds as well.

The portfolio manager Daniel Bathe he said to Bloomberg: “We are evaluating the addition of Bitcoin in small quantities, from 1% to 2% maximum, to other funds for private investors”.

The certificates will be available in the fourth quarter of 2021, but there is no fixed date yet.

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Earlier this year, Union Investment included Bitcoin in a multi-asset fund for the first time. These were Delta 1 certificates in private funds called Flexibel Pro. These funds are allowed to invest up to 1% in Bitcoin and, according to Bathe, are currently just below.

The news came after a new German law went into effect in August that allows Spezialfonds to invest up to 20% of their holdings in Bitcoin.

In July, a spokesperson for Dekabank, one of Germany’s largest wealth managers, told a Bloomberg that the company is considering investing in Bitcoin.

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