Today the crypto community was shocked by a positive sentiment that a new law in Germany would theoretically allow as much as $ 415 billion of investment into crypto that took effect on Thursday.
The German Fundraising Act introduced in April will be passed by parliament soon. This will allow Spezialfonds, or special funds to invest 20% of their portfolio into crypto.
Based on the latest statement, this law will take effect today. If each Spezialfond chooses to allocate 20% to invest in crypto then we will see € 350 billion ($ 415 billion), based on the amount of assets the fund manages in Germany will flow in the crypto market.
The figure was informed by Sven Hildebrandt, CEO of Distributed Ledger Consulting, and was quoted in a report by financial newspaper Boersen Zeitung in April.
Spezialfonds are the dominant institutional investment in Germany. This provision is expected to have huge implications in the crypto market, plus Germany is a large economy.
