$138,400,000,000 Asset Manager Gearing Up To Launch New Crypto Hedge Fund by End of Year: Report

0

- Find Out More -

An investment firm with hundreds of billions of dollars worth of assets under its management is reportedly looking to launch a crypto hedge fund by the end of the year.

According to a new report by Bloomberg, Man Group, the world’s largest publicly-traded investment company, is planning on rolling out its own digital assets hedge fund.

Anonymous sources say the strategy for the crypto hedge fund is being spearheaded by Andre Rzym, a partner and portfolio manager at Man AHL, Man Group’s technology-powered investment arm.

The sources also say that the new crypto fund would be started by Man AHL. Currently, Man Group uses AHL to invest in crypto derivatives and will only launch the fund after the firm evaluates counterparty risks, according to the report.

The report says that Rzym, who has been with the firm since 2005, has been entrusted by the $138.4 billion asset manager to develop new trading models and identify alternative markets.

Man Group is aiming to launch the virtual currency fund by the end of 2022 despite a tumultuous year for the industry, one which saw the collapse of many prominent projects and firms in the space such as stablecoin issuer Terra (LUNA), crypto hedge fund Three Arrows Capital (3AC) and digital asset exchange FTX.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/YanaBu


Credit: Source link

- Find Out More -

Leave A Reply

Your email address will not be published.