Once again, a huge asset manager announces that they are interested in getting involved in the world of crypto and blockchain. This time it’s Union Investment, a German asset manager that invests about $500 billion assets under management (AUM) has.
Union Investment en bitcoin
Union Investment, which is part of DZ Bank Group, recently took the step to provide crypto services to their clients. They go a small amount bitcoin (BTC) to some of their investment funds, it is stated by Bloomberg.
According to a portfolio manager at the company, David Barthe, a small percentage, between 1% and 2%, of some funds will be bitcoin as of the fourth quarter of this year.
In this way, it will be possible for investors to gain exposure to bitcoin without having to use crypto exchanges and such. For investors who still had some doubts, this can offer a perfect solution.
Crypto continues to expand
Major asset managers such as Union Investment that offer bitcoin products is a good example of the extent to which the world of crypto continues to expand. A few years ago, it was unthinkable that a financial giant with $500 billion in assets under management would meddle with bitcoin. It is now almost weekly.
Such developments are particularly good for the future of the crypto world. Along with the rise of crypto exchange traded funds (ETF) this could allow more and more people to create exposure to digital assets in a way that is familiar to them.
In addition, the adoption of crypto is also steadily progressing. More and more companies are working with, for example, bitcoin as a means of payment. In the meantime, even the first country bitcoin accepted as legal tender.
Should this trend continue, the future of bitcoin and crypto in general looks very bright. Time will tell whether this will actually be the case.
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