As mainstream hedge funds pour billions of dollars into the digital asset space, Bridgewater Associates is the latest to join the race by backing a new crypto fund.
Bridgewater Associates is the latest hedge fund giant eyeing to tap into the digital asset space with a crypto fund, according to a recent report.
While Bridgewater does not plan on allocating funds in cryptocurrencies directly, it plans to invest in an external vehicle, said CoinDesk in an exclusiveFounded by Ray Dalio in 1975, Bridgewater’s AUM stands at $150 billion. According to sources familiar with the matter, the size of the hedge fund’s investment is small compared to its total AUM. However, many leading crypto investors are already in talks to invest in the fund.
More recently, Bridgewater revealed actively researching the space without divulging further details. Hedge funds are slowly warming up to crypto as many look to broaden their exposure. Last September, Brevan Howard Asset Management said it was expanding its crypto business. London-based hedge fund Marshall Wace, Steven Cohen’s Point72, and Brevan Howard are also betting big on the asset class.Bitcoin – “one hell of an invention” and went on to add,
“It seems to me that Bitcoin has succeeded in crossing the line from being a highly speculative idea that could well not be around in short order to probably being around and probably having some value in the future.”holding a small portion of Bitcoin and noted that every investor should dedicate a small portion of their portfolio to the largest cryptocurrency.
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