British hedge fund Marshall Wace intends to engage in cryptocurrency investments, writes the Financial Times, citing sources. The company has $ 55 billion under management and will target areas such as blockchain, payment systems for digital currencies, and stablecoins.
Marshall Wace will form a separate portfolio that will include privately owned companies from the digital finance space in the late stages of development.
Sources also said the firm has recently been looking for employees with expertise in digital assets. While Marshall Wace’s new business is just getting started, the firm plans to expand quickly and may add other forms of investment such as cryptocurrency trading, the sources added. Marshall Wace declined to comment on the situation.
This year, the firm opened a dedicated fund to invest in healthcare companies prior to their listing on the stock market. In this way, she hoped to use additional sources of income in the private investment markets.
The new cryptocurrency division will take a similar approach, making venture capital investments in established companies that provide infrastructure for the cryptocurrency market. In particular, Marshall Wace is interested in stablecoin initiatives. The company is still in talks with potential investors, and the size of the portfolio at launch is unknown.
Marshall Wace co-sponsored a $ 440 million round of fundraising for Circle, the firm behind the USDC stablecoin.
A recent survey found that hedge funds are ready to invest up to 7.2% of their capital in cryptocurrencies by 2026.