Overview

• Allianz’s report, “Bitcoin and Cryptocurrencies: The Future of Finance,” marks its first formal endorsement of Bitcoin for institutional portfolios.
• The stance reverses a 2019 policy that avoided crypto over regulatory uncertainty and volatility concerns.
• The firm highlights Bitcoin’s deflationary design, decentralized governance, and low correlations, citing a 0.12 link to the S&P 500 and −0.04 to gold.
• Allianz points to accelerating institutional uptake, noting corporate treasuries outpacing ETFs and about 131,000 BTC bought by public companies in Q2, with endowments such as Emory disclosing holdings.
• Improved access via regulated exchanges, custodians like Fidelity Digital Assets, and SEC-approved spot ETFs underpins the shift, with the firm cautioning its view holds absent major systemic or technological failures.