Union Investment Will Add Bitcoin to Various Funds

Şükriye Akdeniz

Sep 6, 2021

Union Investment will add BTC to various funds following a pilot test earlier this year

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Union Investment is a $437 billion German asset manager. Union Investment announced that it will add Bitcoin to several funds after conducting a pilot test earlier this year. Daniel Bathe, senior commodities portfolio manager, said the allocation will be 2%. He added that private investors are considering adding Bitcoin in small amounts, such as 1% to 2%, to another fund.
Union Investment's goal is to increase Bitcoin exposure from the fourth quarter. An exact date has not been specified at this time.
The Frankfurt-based asset management firm took its first foray into Bitcoin in early 2021. The firm has added delta-one certificates that track the value of the largest cryptocurrency to one of its hybrid mutual funds, PrivatFonds. Bitcoin represents less than 1% of the fund's $352 million portfolios.

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