Germany will allow Spezialfonds companies to invest in cryptocurrencies
A recently approved law will authorize this conglomerate of companies to use 20 % of its capital for the acquisition of digital assets
A recent law passed in Germany will allow the most popular mutual fund managers in the region to invest at least 20 % of their resources in cryptocurrencies.
This law, which will come into effect on July 1st, will allow companies known as Spezialfonds to carry out this type of investment, an action that contributes to the legitimation of cryptocurrencies in the country.
In this regard, the representative of the local parliament, Frank Schäffler, spoke in an interview about the importance of this step for greater adoption and legitimacy of digital currencies, and the possibility that the Spezialfonds can take this step empowers more than 4,000 investment funds existing in the country to which they can invest in both bitcoin and other digital currencies.
On the other hand, Sven Hildebrandt, CEO of Distributed Ledger Consulting, assured that this action represents a “big step” within the cryptocurrency ecosystem, considering that it is estimated that at least 1,200 million euros can be invested by these companies.
Hildebrandt estimates that of all the aforementioned capital, at least 350,000 million euros could enter the cryptocurrency market under this new modality.
K. Tovar
Source: Diariobitcoin
