(Bloomberg) German will, from Monday, start allowing institutional funds to allocate as much as 20% of their holdings in cryptocurrencies.
The so-called Spezialfonds will be allowed to hold the crypto tokens following the coming into effect of a law on Monday.
Germany’s move happens amid skepticism by global lawmakers on the acceptance of crypto assets, allowing the markets to be dominated by a limited number of retail investors.
Analysts expect Germany’s institutional funds to experiment with low levels of crypto assets, given the country’s investors conservative approach to volatile assets.
The Spezialfonds currently manages approximately 1.8 trillion euros or $2.1 trillion and are only accessed by institutional investors, including insurers and pension companies.
BTCUSD is down -0.75%, ETHUSD is up +0.66%.
