Asset Manager Pimco to Extend Crypto Involvement: Report

Pimco’s chief investment officer said some of the fixed-income firm’s hedge-fund portfolios are already trading crypto-linked securities.

AccessTimeIconOct 21, 2021 at 11:10 a.m. UTC
Updated Oct 21, 2021 at 2:50 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

Investment behemoth Pimco, which has over $2.2 trillion in assets under management, has dabbled in cryptocurrencies and plans to invest further, according to Chief Investment Officer Daniel Ivascyn.

  • Ivascyn told CNBC on Wednesday that some of the fixed-income firm’s hedge-fund portfolios are already trading crypto-linked securities, which he described as a “starting point.”
  • “We’re trading from a relative value perspective. So we’re not taking directional exposure, but we’re looking to take advantage of mispricings between the cash product, popular trust that trades on the exchange, and then the futures.”
  • Ivascyn said Pimco is exploring potentially trading crypto, but stressed that it will be taking “baby steps” and focusing heavily on internal diligence.
  • He went on to say that Pimco is “thinking about scenarios where this could take us to ensure that we are competitively prepared to deal with what’s a rapidly changing environment that offers a pretty significant value proposition.”
  • His comments come in a week that has seen the first bitcoin futures exchange-traded fund begin trading on the New York Stock Exchange – a development some observers expect to accelerate the flow of institutional money into crypto.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

Trending

1
CoinDesk - Unknown
Fondos de inversión y traders cripto recortan Tether tras la implosión de UST, según informe

Las posiciones tienen un valor de al menos “cientos de millones” de dólares, dijo un trader.

CoinDesk - Unknown
2
CoinDesk - Unknown
FTX Token DAO Raises $7M From Community of Sam Bankman-Fried Fans

The money is destined for a fund that will contribute to community-led projects across decentralized finance (DeFi) and crypto education.

CoinDesk - Unknown
3
CoinDesk - Unknown
Según Morgan Stanley, la demanda de GPUs podría ralentizarse si Ethereum pasa a proof-of-stake

El cambio tampoco resolverá los problemas de escala de Ethereum, según el informe.

CoinDesk - Unknown
4
CoinDesk - Unknown
First Mover Americas: Bitcoin Holds $21K as BTC Outflows Hit Record High

The latest moves in crypto markets in context for June 27, 2022.

CoinDesk - Unknown