$2.21 Trillion Investment Manager Pimco Starts Exploring Crypto

Alex Dovbnya

Pimco will gradually make crypto part of its trading strategies, according to CIO Daniel Ivascyn

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Wed, 20/10/2021 - 18:54

$2.21 Trillion Investment Manager Pimco Starts Exploring Crypto

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Global investment management firm Pimco plans to start cryptocurrency trading, according to a report by CNBC.

During CNBC's Delivering Alpha conference, Daniel Ivascyn, Pimco's chief investment officer, said that the $2.21 trillion investment management firm was looking to gradually integrate crypto its business:

Now we’re looking at potentially trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the fundamental side.

Several hedge fund portfolios of the fixed-income giant have already dipped their toes into trading cryptocurrency-backed securities.

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Ivascyn claims that decentralized finance is a disruptive force that could threaten Pimco's business. Hence, one of the leading asset managers has to adapt to the new environment.

In December, Pimco's market strategist, Tony Crescenzi, said that Bitcoin is not money.

#Bitcoin News #Cryptocurrency Adoption

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.