Are Bitcoin Whales Back? – Investopedia

Facebook
Google+
Twitter
LinkedIn

Bitcoin whales are making a comeback. One River Asset Management, a hedge fund specializing in volatility bets, has amassed substantial holdings and commitments, worth about $1 billion by 2021, in Bitcoin (BTCUSD) and Ether (ETHUSD), according to a report by Bloomberg.

Eric Peters, the firm’s founder, told the publication that he intends to set up a “blue-chip fiduciary” for cryptocurrencies targeted at institutional investors. The hedge fund has partnered with Northern Trust Corporation (NTRS), which recently announced a partnership with Standard Chartered PLC (SCBFF), for custody and with San Francisco-based exchange Coinbase for trade execution.

Key Takeaways

  • A hedge fund specializing in volatility bets has amassed holdings worth more than $1 billion in Bitcoin and Ether.
  • Other institutional investors and hedge funds are also buying up large holdings of Bitcoin, turning themselves into whales.

Peters is not the only one building holdings in Bitcoin. One of his investors, London-based investment firm Ruffer LLP, disclosed a 2.5% holding of Bitcoin in
Source…

Subscribe to our Newsletter

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Share on facebook
Share on google
Share on twitter
Share on linkedin