German private bank Hauck & Aufhäuser says it will launch a crypto investment fund in January next year, allowing institutional and semi-institutional investors to invest in digital assets including, bitcoin, ether, and stellar.

● According to a report on Fundview, the Frankfurt-based bank is partnering with local fintech company Kapilendo to establish the fund called ‘HAIC Digital Asset Fund I.’ Hauck & Aufhäuser will manage the fund while Kapilendo will act as the crypto asset depository.

● The minimum investment in the fund is 200,000 euros ($242,000), said the report. There is no limit on the subscription period of the fund, it added, and fees of 2.05% will be charged on the total fund volume.

● Hauck & Aufhäuser revealed it is planning for the portfolio to cover around 85% of the total cryptocurrency asset market. The 224-year-old bank, one of the oldest in Germany, said it will pursue a passive investment strategy, which will allocate funds depending on the virtual currency’s market cap and other factors.

● “We are seeing that digital assets and cryptocurrencies are becoming increasingly attractive with institutional investors,” elaborated Holger Sepp, a Hauck & Aufhäuser board member.

● “With the launch of our first crypto fund, together with Kapilendo, we have created an innovative investment vehicle that gives our customers inexpensive and secure access to the new crypto asset class while meeting the established quality standards and high demands of Hauck & Aufhäuser,” Sepp added.

● Hauck & Aufhäuser was founded in 1796 as Gebhard & Hauck. In 1998, it merged with Munich-based Bankhaus H. Aufhäuser to form the current entity. Majority owned by Chinese conglomerate Fosun International, Hauck & Aufhäuser has offices in Germany, England, Luxembourg, China, and Hong Kong, focusing on advisory and asset management of private and corporate clients.

Jeffrey Gogo
https://news.bitcoin.com/?s=German%20Bank%20to%20Launch%20Bitcoin%20Investment%20Fund%20in%20January

Venezuelan Government Bodies Are Expected to Set Guidelines for Granting Crypto Mining Licenses
According to the government’s announcement on Dec. 9, the Framework Agreement for Inter-institutional Cooperation will define which electric fees will be required for crypto miners to pay to pursue their activities.

But the agreement is not limited to putting a fixed rate for mining activities, as both the Ministry of Electric Energy and Sunacrip, whose deal was signed in Caracas by Minister Néstor Reverol Torres and Superintendent Joselit Ramírez, expect to evaluate the feasibility of the crypto mining projects that apply for a license.

Torres explained that Corpoelec will check if the projects meet the technical conditions (still to be defined) and if the locations have the proper environment to pursue mining activities. If they do not, Corpoelec has the right to reject the license applications.

Crypto miners interested in joining the Comprehensive Mining Registry (RIM) should apply within 60 days through the official website of Sunacrip.

Aiming to Regulate Electricity Supply Service Provided to Crypto Miners
The officials also claimed that people should expect to see “fair tariffs” for the crypto mining sector in Venezuela to improve the service. It is worth noting that the country currently provides an unstable energy supply service, often leading to massive blackouts that could last entire days.

However, there is no clarity on whether the correspondent fees will be charged in bolívares (Venezuela’s national currency), other fiat currencies, or cryptocurrencies. Superintendent Ramírez made the following comment after the announcement:

These parameters, duly articulated jointly between Sunacrip and Corpoelec, will allow digital mining to generate benefits for all. The companies that do not comply with the requirements established by the governing bodies in the matter will be outside the law, and the corresponding sanctioning measures will be applied.

This announcement came after news.Bitcoin.com reported about the Venezuelan Army inaugurating a cryptocurrency mining center on Nov. 30, with bitcoin mining equipment to generate “unblockable income” in the midst of the U.S. sanctions.

By Felipe Erazo

https://news.bitcoin.com/?s=Do%20you%20believe%20in%20the%20crypto%20mining-friendly%20stance%20of%20the%20Venezuelan%20government

NEWS
Dec 12, 2020

By Terence Zimwara

Fidelity Digital says it will allow institutional customers to pledge bitcoin as collateral against cash loans in partnership with Blockfi. The firm’s decision helps bitcoin investors turn their digital holdings into cash without selling. Fidelity’s targeted clients include hedge funds, crypto miners, and over-the-counter trading desks.

According to a report that quotes Tom Jessop, the president of Fidelity Digital Assets, the firm is also envisioning “the loans to be longer-term than a typical repo trade.” Jessop adds:

We want to develop a world-class brokerage capability for assets of all types.

The decision by Fidelity’s digital assets division to accept bitcoin as collateral comes as the firm continues to report rising institutional interest in digital currencies. An earlier survey conducted by the firm found that 36% of the respondents held crypto in their portfolios. Additionally, about 60% expressed interest in bitcoin and other cryptocurrencies compared to 47% that had similar sentiment in 2019.

Still, the report clarifies that in order to benefit from the loan service, “a Fidelity customer will have to have an account with Blockfi.”

In the meantime, Blockfi CEO Zac Prince says his company “will risk-manage the famous volatility of bitcoin by offering cash worth 60% of a loan backed by the digital asset.” Still, he adds the program has room for “client-level customization and may be adjusted to meet the needs of large firms.”

What do you think of Fidelity’s decision to accept bitcoin as collateral? Tell us your thoughts views in the comments section below.

https://news.bitcoin.com/fidelity-digital-to-accept-bitcoin-as-collateral-for-cash-loans/

how many of us here are in panic everytime bitcoin is in dip mood and how you overcome this challenge to remain your trust on this crypto?

We can not deny the fact that the huge group of investors in crypto world are currently in a stage of panic and hearers outside form this world are not comfortable in bitcoin and thinking that it is a scam and no hope to once again make an all time high (ATH)  in the market. As a bitcoin supporters how you face this crisis and motivate the others?

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