Man Group is preparing to launch a dedicated cryptocurrency hedge fund despite the current turmoil in the market sparked by the collapse of Sam Bankman-Fried’s digital exchange operator FTX, according to a report by Bloomberg.
Man Group is preparing to launch a dedicated cryptocurrency hedge fund despite the current turmoil in the market sparked by the collapse of Sam Bankman-Fried’s digital exchange operator FTX, according to a report by Bloomberg.
The report cites unnamed sources as revealing that money manager Andre Rzym – a partner at Man AHL – has been working on developing the new strategy for months, with Man Group’s computer-led trading unit AHL on course to launch the fund as soon as the end of this year.
The world’s largest listed hedge fund manager already trades cryptocurrency futures within AHL but will reportedly only launch the dedicated fund after carrying out a full assessment of counterparty risks.
