Program BAI InnovationsDay 2026
9:10 - 9:50 a.m.
Keynote: Saxony-Anhalt Goes Crypto – How Saxony-Anhalt Is Building the Bridge Between Sovereign Issuance and the Digital Future of Capital Markets
- Issuance of the state's first crypto security under the German Electronic Securities Act (eWpG)
- A new chapter in public finance
- Exclusive insights into a pioneering project
- The intersection of sovereign issuance, regulatory requirements, and modern blockchain technology
Markus Krause, Head of the Money and Capital Markets Division, Ministry of Finance of the State of Saxony-Anhalt
9:50 - 10:15 a.m.
Crypto Exposure in a Private Equity Fund – Indirect Investments via ETPs and Custody Considerations
- Objective: Establishing a small tactical crypto allocation for diversification purposes within a closed-ended AIF
- Implementation Approaches: ETPs versus direct token allocations; advantages and disadvantages within AIF structures
- Role of the Depositary, Custodian Bank and Crypto Custodian: Asset segregation, safekeeping arrangements and liability considerations
- Portfolio and Liquidity Management: Valuation, pricing feeds and stress-testing methodologies
- AML and Travel Rule Framework: Compliance requirements for crypto asset transfers
- KAGB/AIFMD Considerations: Investment restrictions, depositary obligations, delegation and outsourcing requirements relating to crypto assets
- MiCAR Interface: Product and service regulations applicable to crypto assets and crypto ETPs
Dr Kati Beckmann, Partner, Greenberg Traurig and Carsten Kociok, Partner, Greenberg Traurig
10:15 - 10:40 a.m.
DeFi Tokens – Accessing DeFi Strategies through Digital Securities
How investors can gain exposure to various DeFi strategies through crypto securities issued under Germany’s Electronic Securities Act (eWpG)
Dr Robert Oppenheim, Partner, Osborne Clarke
Marcel Uhlmann, CIO and Managing Director, Tradevest Markets
11:10 - 11:55 a.m.
Panel Discussion: A Comparative Analysis of German, Luxembourg and U.S. Crypto Regulation
Dr Dr Johannes Blassl, Partner, HEUKING
Friederike Burckhardt, Head of Digital Assets, LBBW
Dr Miguel Vaz, Managing Director, Hauck Aufhäuser Digital Custody
Moderator: Frank Dornseifer, Managing Director, BAI e.V.
11:55 a.m. - 12:20 p.m.
Current Developments Affecting Depositaries and Fund Management Companies: DLT Pilot Regime, Market Integration Package and eWpG
Dr Alexander Glos, Partner, Freshfields
Dr Theresa Kreft-Tönningsen, Principal Associate, Freshfields
1:45 - 2:25 p.m.
Lessons learnt from working with DLT-based securities
- An overview of KfW’s DLT activities
- Insights into KfW’s third DLT bond
- Analysis of the current state of maturity of the DLT-based financial market & next steps
Tim Meirer, Senior Manager, Capital Market Innovation, KfW Bankengruppe
2:25 - 2:45 p.m.
Expert Insight
Michael F. Spitz, Founder and Co-CEO, 360X
2:45 - 3:10 p.m.
AI Agents in Fund Operations & Finance – how investor onboarding, asset screening and KYC/AML/tax compliance are undergoing fundamental change
Ivo Schmiedt, Founder and CEO, Vestlane
3:30 - 4:10 p.m.
Keynote: Beyond the NAV: What Fund Managers Really Communicate in Their Quarterly Reports
- How AI Can Be Used to Automatically Analyze the Qualitative Sections of GP Reports
- The Additional Predictive Signals Hidden in Fund Managers’ Language
- What This Means for Investors’ Valuation, Monitoring, and Investment Decisions
Prof Dr Reiner Braun, Holder of the Chair in Entrepreneurial Finance, Technische Universität München (TUM)
4:10 - 4:55 p.m.
Panel: Between automation and judgement: AI as a new co-pilot for investors and fund managers
Dr Lina Boecker, Partner, Osborne Clarke
