𝐆𝐞𝐫𝐦𝐚𝐧𝐲 𝐠𝐫𝐚𝐧𝐭𝐬 𝐢𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐚𝐥 𝐟𝐮𝐧𝐝𝐬 𝐭𝐡𝐞 𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐭𝐨 𝐢𝐧𝐯𝐞𝐬𝐭 𝐢𝐧 𝐜𝐫𝐲𝐩𝐭𝐨.
German funds aimed at institutional investors can now allocate up to a fifth of their assets to cryptocurrencies, but managers are expected to take a cautious approach as they weigh the risks of placing client money in the ultra-volatile asset class.
The new rules, which were enacted at the start of July, come as Germany’s financial watchdog BaFin attempts to balance its concerns about what it has described as the “highly risky and speculative” nature of cryptocurrencies with its desire to encourage the development of new technologies that could have a significant effect on financial services.
For the article see: www.ft.com/content/c523fa52-25da-4d7e-8378-cc58bd1e6c89
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