London Hedge Fund seeks to hire crypto expert as it forays into digital assets
The Winton Group fund has posted a job advertisement to hire a cryptocurrency analyst
Financial News has reported that a major London hedge fund founded before the 2007 financial mortgage crisis is searching for a cryptocurrency expert to support its expansion into the digital asset space.
Winton enters the digital asset market
The job ad published by the fund says the company is looking for an analyst to support the creation of “cryptosystematic trading strategies.”
The fund was created back in 2007 by investor David Harding. By announcing its desire to hire a cryptocurrency expert, it in a sense suggests that the company will join the ranks of other large investors to take advantage of the developing market for crypto-assets that promise high profits and high volatility. The job advertisement was posted on LinkedIn in August last year.
The hired expert will conduct research and analysis of crypto markets and create crypto portfolio for trading.
Advertisements
Financial News shared that Winton, which manages assets worth $8 billion, declined to comment when contacted by the news outlet.
Several hedge funds are making inroads into crypto
A recently published report by PwC said that the amount of hedge funds now investing in cryptocurrency globally has grown by more than two times compared to 2021.
Meanwhile, more than 300 crypto-oriented hedge funds are now operating around the world. Fifty-seven percent manage less than 1% of AUM in crypto. 67 percent plan to increase investments in digital assets by the end of the year.
The majority of hedge funds surveyed by PwC traded Bitcoin, ETH, SOL and DOT.
Most crypto hedge funds will go bankrupt: Mike Novogratz
This summer, in August, crypto magnate and founder of Galaxy Digital Mike Novogratz stated during the Piper Sandler Global Exchange and Fintech Conference that the majority of hedge funds focused on crypto investment and trading are going to burst.
Novogratz believes there may be around 1,900 of these funds out there. He does not fear that Bitcoin will cease to be a true macro asset. Still, if at the time Bitcoin was struggling near the $30,000 price mark, over the past two weeks it had traded close to $20,000 in an attempt to regain it and go back up.
Yesterday, September 6, the flagship cryptocurrency plunged by almost 6%. As of this writing, BTC is changing hands at $18,842, per CoinMarketCap.
