The hedge fund Marshall Wace, which manages $ 55 billion in assets, plans to start investing in cryptocurrency companies and directly in digital assets.
This is reported by the Financial Times, citing “sources familiar with the operations of the fund.” The management of the hedge fund plans to invest in cryptocurrency startups that are at an advanced stage of development. We are talking about a wide variety of companies: projects for the release of stable cryptocurrencies, payment systems supporting digital assets, and firms working in the blockchain field.
Previously founded by Paul Marshall, Marshall Wace invested in payments company Circle, which launched the popular USDC stablecoin. The British hedge fund participated in Circle’s May round of funding, in which the company raised $ 440 million.
In addition, sources say that the fund will also invest directly in cryptocurrencies. There are no details about the amount of investments yet, as well as data on which coins are planned to be bought.
Earlier, another large British hedge fund, Brevan Howard Asset Management, announced investments in cryptocurrencies.
In mid-June, the Financial Times conducted a survey of hedge fund CFOs and found that within five years, up to 7% of funds managed by funds will be placed in digital assets.
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