London-based funding supervisor Man Group plc is making 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 November 18 that Man Group is making ready to launch its personal crypto-focused hedge fund by means of its computer-based buying and selling unit AHL. Citing personal sources, Bloomberg revealed that the brand new hedge fund might be prepared by the top of the yr.
A spokesperson for Man Group declined to touch upon the matter when requested by Cointelegraph.
The Man Group already has publicity to digital belongings by means of AHL, which actively trades crypto futures. As of the top of September, Man Group had belongings underneath administration of $138.4 billion, down barely from $142.3 billion throughout the earlier quarter.
The corporate is publicly traded on the London Inventory Change and is a constituent of the FTSE 250.
Institutional urge for food for digital belongings like bitcoin (BTC) has grown over the previous two years, partly pushed by the popularity that crypto represents a brand new funding class. Nevertheless, broader institutional publicity to crypto has been hampered by an absence of clear laws and a 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 might be hindered by the latest collapse of FTX and the agency’s subsequent Chapter 11 submitting. Some consider that the failure of FTX will convey extra regulatory scrutiny on the trade at a time when traders had been hoping for clearer and maybe extra favorable pointers.