$500 Billion German Union Investment To Add Bitcoin Exposure

$500 Billion German Union Investment To Add Bitcoin Exposure

Frankfurt based asset manager Union Investment is testing a pilot program with Bitcoin exposure certificates, according to Bloomberg. If the program is successful it will open Bitcoin exposure up to other funds as well.

Portfolio manager Daniel Bathe told Bloomberg: “We are considering adding bitcoins in small amounts of 1% to 2% maximum to a handful of other funds for private investors.”

The certificates will be available in the fourth quarter of 2021, but there is no fixed date yet.

At the beginning of this year, Union Investment included Bitcoin in a mixed fund for the first time. These were Delta 1 certificates in private funds called Flexibel Pro. Those funds are allowed to invest up to 1% in Bitcoin and according to Bathe, they are currently just below that.

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