German law allowing institutional funds to hold crypto comes into effect Aug. 2
Cointelegraph
Published Jul 31, 2021 12:36PM ET
Updated Jul 31, 2021 02:20PM ET
Beginning on August 2, 2021, German institutional funds will be able to hold up to 20% of their assets in cryptocurrencies, possibly setting the stage for wider mainstream acceptance of Bitcoin (BTC) and other crypto assets by the nation’s pension funds.
As Bloomberg reports, the new law alters fixed investment rules governing Spezialfonds, also known as special funds, which are only accessible to institutional investors such as pension funds and insurers. Spezialfonds currently manage about $2.1 trillion, or 1.8 trillion euros, worth of assets.
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Written By: Cointelegraph
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