Bringing Bitcoin Investments to the General Public
Union Investment is the investment division of DZ Bank Group, an organization that consolidates over 800 private banks. This positions the investment firm as one of the largest asset managers in Germany. The company is now accelerating its plans to integrate cryptocurrency into its funds to offer crypto investment services to retail investors.
As reported to Bloomberg, the asset management company stated that the investment funds will primarily target private investors. This means that only individuals or companies will be able to purchase Bitcoin using their funds. It remains unclear whether this will eventually be made available to asset managers such as pension funds, but this scenario is quite likely.
The asset manager has successfully tested its pilot program; following this testing phase, the leading cryptocurrency will now be incorporated into existing funds. This news comes after a new law came into effect in Germany in August, allowing special funds to invest up to 20% of their assets in BTC. Pension funds and other investors are also benefiting from this. In July, DekaBank – one of the largest asset managers in Germany – also announced that it is considering investing in Bitcoin.
