Marshal Wace to advance into the crypto market

Marshal Wace
Image by Arek Socha from Pixabay
  • Marshal Wace fund interested in crypto?
  • market cap rising as the wave of inclusion continues

YEREVAN (CoinChapter.com) – Marshal Wace, the London-based hedge fund, managing $55 billion in assets, is allegedly planning investments in the digital asset sector.

The fund created in 1997, will focus its attention on blockchain technology, payment systems for cryptocurrencies, and stablecoins. The latter will be of particular interest to the firm, as a link between the crypto market and fiat economics.

Why the sudden interest?

Marshal Wace has already expressed interest in stablecoin development. For example, the fund became one of the investors in Circle, a FinTech firm that launched ‘USD Coin’ stablecoin in late May.

Sources report that the hedge fund plans to buy stakes in various digital finance companies. Most of them are in the late stages of their development.

The fund has also been looking for professionals in digital currencies to expand into the crypto sector successfully. The negotiations with potential investors are still ongoing and Marshal Wace has not announced the amount of the launch. Amit Rajpal, the CEO of Marshal Wace Asia, will head up the new segment.

Also read: Beijing company suspected of cryptocurrency trading faces China’s central bank’s wrath

Rising interest in crypto

The wave of interest toward crypto from hedge funds and institutional investors continues to rise. In addition, investment management firms like ARK Invest, are offering crypto investments to their clients.

Also, institutional giants such as Wells Fargo now offer crypto exposure to their most prosperous clients. Even famous skeptics like Jamie Dimon, the chief executive of JPMorgan, changed his mind on crypto. The bank offers its clients to dab into the digital currency market and created its own digital coin for payments facilitation. Much like Marshal Wace, JPMorgan launched a hunt for crypto-savvy professionals to join the ranks.

Meanwhile, the crypto market is making recovery attempts after the latest crash of June 20.

Crypto market cap. Source: TOTAL on TradingView.com
Crypto market cap. Source: TOTAL on TradingView.com

The total crypto market cap stood at $1.41 trillion in the early New York session Tuesday, gaining 12 percent since June 20.

Also read: Bullish cues for Bitcoin as central banks up gold buying on inflation fears

Marshal Wace, the London-based hedge fund is planning to dab into the crypto sector. The growing trend attracts many other private and institutional investors. Moreover, the rising interest in financial technology firms and digital markets has given the crypto market cap a little push in the direction of recovery.

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