Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
The $500 billion German asset manager speeds up plans to adopt crypto after assessing Bitcoin certificates.
The DZ bank group investment arm Union Investment makes another move to provide crypto investment services to individual investors. They intend to convert a small percentage of their funds to BTC.
Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course
Union Investment is knowns as the investment arm of DZ Bank Group, an organization with more than 800 cooperative banks. They had an asset worth $507 billion under management as of June 30. This makes the investment company one of the biggest asset managers in Germany.
Union Investments Conducting A Crypto Experiment
According to sources, the portfolio manager revealed the Company’s intention to convert 1-2% of their portfolio to BTC. However, David Barthe added that they’re yet to fix the date the plan will kick off in Q4.
This idea emerged after the company’s first addition of crypto to a mixed fund known as Private Funds Flexible Pro. They came like Delta one certificates early this year. Delta certificates expose investors to assets in a manner that looks like they are the owners already.
Kamil Kaczmarski is a renonwn consultant for Oliver Wyman financial service providers. He revealed that his firm had observed the high interest in crypto existing within the fund manager lately. Currently, union investment has a total sum of $500 billion worth of assets under management.
Bringing Bitcoin To The Masses
Developments like the ones at Union Investment are among the many that make crypto exposure easier for an average person. Further assistance from Germans S Brokers issued Stocks, ETFs, and 40 BTC certificates recently. This will give customers access to a wide range of crypto assets to invest in
This means suspension of access to Bitcoin ETF in the US. It’s not in SEC plans to approve institutions like that currently, and they may wait till 2023 before considering it.
A bitcoin ETF is a digital currency that mimics the BTC price, the most popular digital currency. It allows investors to buy into the ETF without following the complicated process of trading bitcoin itself.
Related Reading | Bitfinex To Roll Out Security Token Offerings (STOs) Platform In Kazakhstan
Recently, ATM installations are increasing greatly, providing a more friendly option of purchasing and selling BTC to wallet owners. Statistics show that most ATM installations are done in the US.
Bitcoin is still trying to recover its previous losses | Source: BTCUSD on TradingView.com
A BTC ATM is a kiosk allowing individuals to buy Bitcoin and other cryptos with a debit card or cash. Bitcoin cash kiosks are similar to traditional Automated Teller Machines, except they don’t connect to any bank account. Instead, they directly connect users to a Bitcoin exchange or wallet; 42,266 BTC ATMs in the United States.
Featured Image From Pixabay, Chart From TradingView.Com
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.