The CEO of the Man Group, a major U.K.-based hedge fund, is reportedly eyeing an entry into the cryptocurrency space in light of a pending derivatives product launch by CME Group.
The chief executive was quoted as saying:
In the event that the Man Group makes the proverbial leap to investing in cryptocurrencies – Ellis didn't offer any clues beyond the hint related to CME – it would be the latest firm of its kind of enter the market.
His remarks come on the heels of CME announcing that it would launch its bitcoin product by the end of 2017. At the time it announced the product, the company was still waiting on approval from regulators. CME Group CEO Terry Duffy then made waves earlier this week when he said that the futures contract could launch as soon as mid-December.
Disclosure: CME Group is an investor in Digital Currency Group, CoinDesk's parent company.
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