Private German bank Hauck & Aufhauser is launching a cryptocurrency fund in January 2021. According to an announcement on Thursday, the HAIC Digital Asset Fund will be aimed at institutional clients and hold a number of cryptocurrencies such as bitcoin, ether and stellar. The minimum investment will be US$243,000.
Frankfurt-headquartered Hauck & Aufhauser said it has seen digital assets and cryptocurrencies become increasingly attractive to institutional investors. The fund managers will take a passive investment strategy while the cryptocurrency allocation will be based on the current market capitalization. The bank is teaming up with the custody arm of Berlin-based fintech company Kapilendo, which will manage the secure storage of the crypto assets in the fund.The crypto fund is one of the first to be launched by a private bank for high-net-worth individuals and institutional investors.