The mass adoption of crypto is going great and there are all kinds of moves that are being made in this direction.
Check out the latest reports coming from Germany, for instance.
German investment funds to hold crypto
It’s been just revealed by the online publication Crypto Potato that according to a new law coming into effect next week, some German investment funds will be able to hold up to 20% in crypto.
This amazing announcement comes amid growing demand from various institutions towards the industry.
The same online publication also noted that according to a Bloomberg report from July 30th, Spezialfonds – German investment funds with fixed rules – will be able to allocate as much as 20% of their holdings in digital assets.
It’s been also revealed that those funds reportedly manage around 1.8 trillion euros or $2.1 trillion and “can only be accessed by local institutional investors like insurers or pension firms.”
Tim Kreutzmann – who is an expert on cryptocurrencies at BVI, Germany’s fund industry body – pointed out that the majority of the funds would most likely prefer to start small at first:
“Most funds will initially stay below the 20% mark. On the one hand, institutional investors such as insurers have strict regulatory requirements for their investment strategies. And on the other hand, they must also want to invest in crypto.”
We suggest that you check out the original article in order to learn more about the available details about the matter.
Data from Glassnode brings news about Active Entities
In other news, data from Glassnode and notes that Bitcoin has experienced a 41% decline in active entities since January.
During the past week, however, the number of active entities shot up by 30%.
“Bitcoin has seen a resurgence in Active Entities over the past week, rising by 30% from [250,000] to [325,000] active entities per day,” Pantera’s Dan Morehead said.
Stay tuned for more news.