Acatis, an investment fund company for wealth managers and banks, becomes one of the first players in the traditional financial sector to add Bitcoin to its portfolio. The German asset investor manages around €3.5 billion for its clients.
The traditional financial markets have so far been reluctant to look at Bitcoin as an investment. With Acatis going the Bitcoin way, this reluctance can slowly wear off.
However, Acatis does not invest directly in Bitcoin, but in a Bitcoin ETN. Investments such as Bitcoin Trackers are a good tool to connect traditional financial markets to Bitcoin even if they are slightly more expensive and introduce risks associated with middle-marketers.
This method eliminates the technical risks of bitcoin storage and allows investors to invest bitcoins on the usual platforms without having to care for any special tools or conditions.
Hendrik Leber, the founder of Acatis, believes Bitcoin Tracker XBT to be the best option in the absence of ETF. He says that investment companies cannot buy bitcoin directly since they are not in the list of assets that they are allowed to use. There are only limited options available for investment companies to invest in bitcoin.
Acatis has become the first traditional investment company to invest in bitcoin – linked securities, a field known to be dominated by young, risky investors, often with a background in the new economy.
Bitcoin has graduated to an investment object with very specific characteristics. It attributes an exceptionally good risk/return ratio, as features remarkable independence from the fluctuations of other asset classes.
Hendrik Leber, the founder of Acatis, thinks it possible for other institutional investors like retirement funds, insurance companies, and banks to follow their lead but says it will take time.
He says that he has discussed Bitcoin with clients, banks and other insurance companies and they do find Bitcoin interesting. Some of his colleagues, like him, do own bitcoin privately but integrating them in their professionally managed funds is a still a long shot.