One of Germany’s biggest asset managers “considering investing in bitcoin” “

DekaBank is reportedly considering investing in bitcoin after the new law takes effect on Monday, but says “the decision has not yet been made.”;
Dekabank, one of Germany’s largest asset managers, is considering investing in bitcoin, a company spokesman told Bloomberg today.
The news comes ahead of the introduction on Monday of a new German law that would allow Spezialfonds to invest up to 20% of assets in bitcoin.
In Germany, private funds are mostly used for investment by institutions such as pension companies and insurance companies. Under this new law, Dekabank will be the only one of about 4,000 German companies eligible to buy bitcoin.
Dekabank, which now has $ 403 billion in assets under management, said in response to bitcoin Magazine:
“Deka does not currently offer special unlimited currency AIFs that can invest in cryptocurrencies. We are currently considering our options, but no decision has been made on protocol.”;
Elsewhere in the report, Financial Services Consultant Kamil Kachmarski noted that traditionally conservative German investors could experiment with bitcoin at a “low level” first because of bitcoin’s supposed short-term volatility. 
According to his estimate, it could take at least five years for most funds to reach the 20% threshold.
Collectively, institutional investors with access to private bonds that can buy bitcoin now manage about $ 2.1 trillion.
Tim Creutzmann, an expert on crypto assets in the British Virgin Islands, said at Germany’s Centre for competence for the fund industry:”most funds will initially remain well below the 20% limit.”
Under the new law, Multinational Investment Bank and financial services provider Deutsche Bank AG could start offering money to buy bitcoin, but they have yet to announce any plans to do so. 
Image from Dekabank website

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