CoinShares’ HAL automated trading could revolutionize retail crypto investing
London-based digital asset manager CoinShares has introduced an algorithmic trading platform called HAL that could revolutionize retail crypto investing.
In a press release, CoinShares revealed that HAL is the only product of its kind that gives crypto traders “easy access” to strategies designed or curated by professionals with proven experience in crypto trading.
HAL, which stands for Heuristically Programmed ALgorithmic Computer, will allow crypto traders to use advanced trading strategies designed by CoinShares’ quant team to easily trade cryptocurrencies without custody on their existing centralized exchange accounts for a fee of 19.9 euros (around $19.8) per transaction. month.
Strategies currently available include four quantitative investment styles, with thematic index strategies planned. HAL is currently available to connect to Binance, FTX, Kraken and Bitfinex.
The strategies can be used in trading Bitcoin (BTC), Ether (ETH), BNB, Polygon (MATIC), Ripple (XRP), Cardano (ADA), Solana (SOL), Bitcoin Cash (BCH) and Dogecoin (DOGE) on these the stock exchanges.
Jean-Marie Mognetti, CEO of CoinShares, said in an interview with Forbes that the robo-advisor platform is designed to help retail traders in contrast to current platforms with complex marketplace offerings aimed at advanced traders with robots designed by non-professional traders .
“It’s for all consumers who have an exchange account with an exchange in Europe who want to be able to have a slightly more risk-based approach to their trading environment,” said Mognetti
HAL is CoinShare’s first product aimed at private investors. However, the asset manager is convinced that its track record with institutional investors where it has been through several bear markets will win the confidence of the private market.
“We’ve been able to navigate several bear markets successfully. At the end of the day, people tend to trust people who stand by them for the long haul, so CoinShares is one of those entities in the crypto ecosystem that has been there for a very, very long time and we will continue to be there for a very, very long time,” Mognetti added.
Automated trading could be the new trend in crypto
HAL could be at the forefront of a revolution to give crypto traders safe to use algorithmic trading services. Robo-advisors have been a common thing in the stock market for a long time before now, but are not so common in the crypto market.
According to Charles Schwab, a financial services company with its own robo-advisory product, robo-advisors will manage an estimated $460 billion worth of assets by the end of 2022. Should HAL deliver on its promises, it could replicate the success of equity robo-advisors in the crypto market.
