:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/SAKD2RHIIREGPILWHIUUUNZSPI.jpg)
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)
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.
According to Reuters, CEO Luke Ellis indicated that if the CME proceeds with its plans to list a bitcoin futures contract – possibly as early as next month – the hedge fund that claims more than $100 billion in assets under management could make cryptocurrency as part of its "investment universe."
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.
Markets graph image via Shutterstock
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.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/3Q6ZZ2YIXBFBDPUTM46AONVWNI.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/JZ2HIMZIGVFY3IQ7MQF6LC5E3U.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/QXGW7T4KGBDKRDLQSF3O3D7ZXE.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/AP6VNQRHFZHVHCOP6MN2X4U3LI.jpg)