Pimco Is Another Financial Institution To Embrace Crypto
Company has announced plans to gradually invest more in crypto currency -was confirmed by the chief investment officer Daniel Ivascyn.“Now we’re looking at potentially trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the fundamental side,” Ivascyn said in an interview with CNBC. “So this will be a gradual process where we spent a lot of time on the internal diligence side speaking to investors. And we’ll take baby steps in an area that’s rapidly growing.”-he summed up.
His comments came right after bitcoin hit $66,000 on Wednesday and successful launch of the first U.S. bitcoin futures exchange-traded fund.
“We’re trading from a relative value perspective. So we’re not taking directional exposure, but we’re looking to take advantage of mispricings between the cash product, popular trust that trades on the exchange, and then the futures,” Ivascyn said. “So that was a starti
