London hedge fund Marshall Wace is said to be planning its move into the blockchain and crypto investment space
Marshall Wace is said to be looking to enter the crypto space. The London based hedge fund currently has $55 billion in assets under management. Making it one of the largest funds in the world. The company is planning on investing in blockchain technology, payment systems for digital currencies and stablecoins.
The launch of its first crypto portfolio is said to be eyeing out investments in privately owned digital finance companies that are at a late stage in their development. The growth of cryptocurrencies and blockchain technology in 2021 has seen a flurry of large investors and funds getting into the market as opportunities present themselves.
Marshall Wace is said to be looking to invest in late stage companies that are building the infrastructure of digital finance. Stablecoins appear to be a key focus for the company. Marshall Wace has previously invested in technology company Circle, who is behind the stable coin, USD Coin.
The company has not confirmed the size of the new portfolio or if any investors have joined yet.
Big funds jumping into crypto
The move is clearly indicative of big investors and funds looking to capitalize on the current market. Marshall Wace will be following big fund managers such as Andreessen Horowitz (a16z). The company recently announced its second crypto fund, totaling $2.2 billion. A16z will also be looking to invest in digital asset start-ups and blockchain technology. The company commented on its second crypto fund. Saying, “We believe that the next wave of computing innovation will be driven by crypto.”
A recent survey conducted on 100 hedge fund CFOs also indicated that 7.2% of their assets would be delegated to the crypto space by 2026. This would be a significant increase for traditional hedge funds.
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