Institutional investors are showing renewed interest in digital assets, with Bitcoin maintaining its lead as the preferred cryptocurrency, according to a new survey by CoinShares. The findings come as Germany signals a potential overhaul of its crypto tax rules from 2027, which could end a key tax-free holding period for long-term investors. Meanwhile, the co-founder of Samourai Wallet is appealing to the crypto community for financial support after accruing significant legal debt.
Fund managers increase crypto exposure amid improving sentiment
The April survey by CoinShares gathered responses from 26 institutional investors managing a combined $1.3 trillion in assets. Allocations to digital assets remain modest, at around 1%, which the firm described as typical entry-level positioning in the current de-risking environment. Bitcoin continues to be viewed as the digital asset with the most compelling growth outlook, according to James Butterfill, CoinShares head of research. Sentiment toward Ether and Solana also improved modestly compared to previous quarters, reflecting a gradual increase in institutional exposure driven by growing ETF adoption and a more favorable regulatory backdrop.
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Germany proposes changes to crypto tax rules from 2027
Germany is preparing to change how it taxes Bitcoin and other cryptocurrencies starting in 2027, potentially ending one of Europe’s most generous long-term holding exemptions. Finance Minister Lars Klingbeil stated at an April 29 press conference that the government wants to tax cryptocurrencies differently, with an estimated 2 billion euros in additional revenue expected from crypto taxation. Under current rules, private crypto gains are tax-free if held for more than one year, making Germany a favorable jurisdiction for long-term holders. Industry groups, including the German Bitcoin Association, say the one-year holding period is the most likely target for reform if the government aims to generate significant revenue from crypto taxation.
Impact on German retail investors
The potential change could significantly affect German retail investors who have relied on the tax-free holding period as a key advantage for long-term Bitcoin and crypto holdings. Tax advisory firms such as Blockpit have described the current rule as a major benefit for individual investors. The finance ministry’s 2022 and 2025 guidance had confirmed that the one-year holding period also applies to coins used in staking and lending, after an earlier plan for a 10-year holding period was dropped.
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Samourai Wallet co-founder seeks donations for legal fees
Keonne Rodriguez, co-founder of the crypto-mixing protocol Samourai Wallet, is appealing to the crypto community for donations to cover $2 million in legal bills and fines tied to his money laundering trial. Rodriguez and co-founder William Lonergan Hill were sentenced in November to five and four years in prison, respectively. Rodriguez stated in a social media post that he has been financially wiped out, accruing $2 million in debt from legal fees and a $250,000 fine. The case, along with that of Tornado Cash co-founder Roman Storm, has drawn attention from crypto advocates who argue that developers should not be held responsible for the actions of third parties using open-source privacy tools.
Conclusion
The convergence of improving institutional sentiment, potential regulatory changes in Germany, and ongoing legal battles over privacy tools highlights a key moment for the crypto industry. While institutional adoption continues to grow, regulatory developments in key jurisdictions could reshape the field for both investors and developers. Readers are encouraged to monitor these developments closely as they evolve.
FAQs
Q1: What is the current tax-free holding period for crypto in Germany?
Under current German law, private crypto gains are tax-free if the assets are held for more than one year. This exemption applies to coins used in staking and lending as well.
Q2: When would the proposed German crypto tax changes take effect?
Finance Minister Lars Klingbeil indicated that the government is preparing to implement changes from 2027, though the specific details of the reform have not yet been finalized.
Q3: Why is the Samourai Wallet case significant for the crypto industry?
The case raises questions about developer liability for third-party use of open-source privacy tools. Crypto advocates argue that prosecuting developers for how others use their software could criminalize privacy-focused technologies and restrict innovation.
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