See More

World’s Largest Publicly-Traded Hedge Funds Bet Big on Crypto Despite Recent FTX Turmoil

2 mins
Updated by Ryan James
Join our Trading Community on Telegram

In Brief

  • Man Group has over $97 billion in assets under management
  • The firm is developing a cryptocurrency trading strategy under the leadership of Andre Rzym
  • Japan’s Nomura bank will provide institutional clients with facilities to trade cryptocurrencies by early 2023.
  • promo

Man Group Limited plans to start a crypto hedge fund while the market is yet to heal from the recent FTX turmoil.

The recent FTX collapse 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 volatility and regulatory concerns.

Source: CoinMarketCap

Man Group bets big on Crypto

The Man Group has over $97 billion in assets under management as of Mar. 22. It is also listed on the London Stock Exchange (LSE), making it the world’s largest publicly traded hedge fund.

According to a Bloomberg report, 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 futures through AHL. The high volatility of crypto markets may prove beneficial for hedge funds because they trade both longs and shorts.

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 neck-deep 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. 

Got something to say about the crypto hedge fund or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.


For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

Top crypto platforms in the US | March 2024
Coinbase Coinbase Explore →
AlgosOne AlgosOne Explore →
Chain GPT Chain GPT Explore →
iTrustCapital iTrustCapital Explore →

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Frame-2264-1.png
Harsh Notariya
Harsh Notariya excels in delivering SEO-optimized crypto news under tight deadlines. Previously, as a Growth Marketer at Sporty and a Community Consultant at Totality Corp, he significantly boosted community engagement and followers. Harsh also crafted engaging content for top crypto influencer Shivam Chhuneja, blending meme references for an educational yet fun experience. His versatile skills make him a notable figure in crypto journalism.
READ FULL BIO
Sponsored
Sponsored