London-based funding supervisor Man Group Plc is getting ready to launch a cryptocurrency hedge fund, signaling continued investor urge for food for digital belongings within the wake of FTX’s monumental collapse earlier this month.
Bloomberg reported on Nov. 18 that Man Group is getting ready to launch its crypto-focused hedge fund by means of its computer-led buying and selling unit AHL. Citing personal sources, Bloomberg disclosed that the brand new hedge fund could possibly be prepared by the top of the yr.
A spokesperson for Man Group declined to touch upon the matter when requested by Cointelegraph.
Man Group already has publicity to digital belongings by means of AHL, which actively trades crypto futures. By the top of September, Man Group had $138.4 billion in belongings underneath administration, down barely from $142.3 billion in the course of the earlier quarter.
The corporate trades publicly on the London Inventory Trade and is a part of the FTSE 250.
Institutional urge for food for digital belongings like Bitcoin (BTC) has grown over the previous two years, pushed partly by the popularity that crypto represents a brand new funding class. Nonetheless, broad institutional publicity to crypto has been hindered by an absence of clear rules and the notion that fiduciary requirements forestall fund managers from brazenly advocating for the sector.
Associated: Amid FTX collapse, crypto funds see largest inflows in 14 weeks
Crypto’s push for mass adoption could have been hindered by the latest collapse of FTX and the agency’s subsequent Chapter 11 submitting. Some consider that FTX’s failure will put extra regulatory scrutiny on the trade at a time when buyers have been anticipating clearer and maybe extra favorable tips.
