Man Group Limited plans to start a crypto hedge fund while the market is yet to heal from the recent FTX turmoil.
Son FTX çöküşü wiped nearly $200 billion from the crypto markets. The total market cap was over $1 trillion at the beginning of this month, but it now stands at around $800 billion, according to data from CoinMarketCap. Man Group to start a cryptocurrency hedge fund despite such uçuculuk and regulatory concerns.
Man Group bets big on Crypto
The Man Group has over Yönetim altındaki varlıklarda 97 milyar dolar as of Mar. 22. It is also listed on the London Stock Exchange (LSE), making it the world’s largest publicly traded hedge fund.
Bir göre Bloomberg raporu, Man Group is developing a strategy for a dedicated cryptocurrency hedge fund under the leadership of the firm’s money manager Andre Rzym. Andre has been working for 17+ years for the firm.
The fund may start trading by the year-end after risk assessment under the firm’s computer-led trading unit – AHL. Man Group also trades cryptocurrency vadeli through AHL. The high volatility of crypto markets may prove beneficial for hedge funds because they trade both longs and şort.
Institutional interest in the crypto market
Despite the bearish sentiments, institutional and venture capital money continues to flow into the crypto market. While many await regulatory clarifications, some enterprises are already boyuna kadar into digital assets. In most cases, it is due to the high demand from clients for crypto services that pushes them toward adoption.
The most recent announcement comes from the Japanese bank – Nomura. One of the largest banks in Japan will provide facilities for institutional clients to trade cryptocurrencies by early 2023.
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Source: https://beincrypto.com/hedge-fund-bets-big-on-crypto-despite-recent-ftx-turmoil/