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Quant funds cash in on crypto volatility

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Some computer-driven quant funds are benefitting from the current turmoil in the cryptocurrency markets, according to a report by The Financial Times.

Despite trillions having been wiped from the total value of cryptocurrencies recently causing many investors and funds to incur big losses, some algo-driven funds have banked big returns on the declines in the value of major cryptocurrencies including bitcoin, ether and luna.

The report cites Lehman Brothers and Morgan Stanley trader Jay Janer, the founding partner of KPTL Arbitrage Management in the Cayman Islands, as being among the group of investors to have benefited.

Jahner’s Appia fund banked big returns by placing a series of short bets on luna as the cryptocurrency’s value crashed from $80 to almost zero, catching about tow-thirds of that fall in the process according to the FT.

Other funds including Leda Braga’s Systematica Investments and London-based hedge fund Florin Court are also reported to have benefited from the sell-off in bitcoin and ether.

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