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It’s been easy for digital asset hedge fund managers to look back of late. But what lies ahead? Consolidation, opportunity, and the looming question of regulation.
Institutional allocations to digital asset funds – a genuine prospect this time last year – have been delayed again after the events of last year. But other investor types see opportunities.
It’s been a little over three months since the collapse of FTX Trading and its cryptocurrency exchange. For fund managers, that’s a lifetime.
A new fund set to be launched by Todd Barker, the former head of the Surveyor Capital unit at Ken Griffin’s Citadel, is expected to raise over $1 billion making it one of the largest launches of the year, according to a report by Bloomberg.
Multi-strategy hedge fund Millennium has added several portfolio managers in Singapore just five months after moving to new larger premises in the city state last October, according to a report by eFinancial Careers.
The new arrivals include Kenneth Maples who joined the firm in Singapore after nearly eight years at Virtu Financial. He most recently served as head of trading for APAC but then spent 11 months seeing out a non-compete contract clause before joining Millennium.
Wissam Mezrani meanwhile, made his Millennium move after four and a half years as head of quant market making at Citi, while Ravish Kumar
Ten hedge funds and asset managers have launched two new lawsuits against the London Metal Exchange over the cancellation of billions of dollars of trades in the nickel market last year, according to a report by Reuters.
The US Securities and Exchange Commission has accused crypto hedge fund BKCoin Management and one of the firm’s co-founders, Min Woo “Kevin” Kang, of fraud and misusing investor funds and has successfully filed an emergency action to freeze assets and appoint a receiver for the business.
Horizon Software, a provider of electronic trading solutions and algorithmic technology for the global capital markets, has launched new connectivity to the Singapore Exchange (SGX Group), which operates equity, fixed income, currency and commodity markets.
Digital assets investment products saw minor outflows totalling $17 million last week, marking the fourth consecutive week of negative sentiment, according to the latest Digital Asset Funds Flows Weekly report from CoinShares.
Bridgewater Associates has raised over $800 million for a new hedge fund strategy designed to protect investments during equity bear markets by generating returns negatively correlated to equities, according to a report by Reuters.
