Pension And Sovereign Wealth Funds Eye Crypto As Regulators Focus On A Global Crypto Framework
Nothing indicates the ascendance of an asset in the financial system more than a pension fund investing in it. It is the ultimate signal of arrival. The Houston Firefighters’ Relief and Retirement Fund (HFRRF) announced in 2021 that it was investing $25 million in bitcoin, the first time a U.S. pension fund invested in cryptocurrencies.
The HFRRF investment is in collaboration with NYDIG through a customized private fund managed by NYDIG, the cryptoasset manager that just completed a $1 billion funding round, one of the largest in history.
In 2018, Fairfax County’s Virginia’s Police Officers Retirement System invested in Morgan Creek Digital funds which invests in blockchain technology. In September Fairfax announced a $50 million investment in Parataxis Capital Management’s main fund which buys digital tokens and cryptocurrency derivatives.
Pimco, one of the world’s largest asset managers and fixed income specialists with assets under management over $2 trillion has many pension fund clients. It announced in October that is investing in crypto with chief investment officer Daniel Ivascyn saying that some of Pimco’s hedge fund portfolios are already trading crypto-linked securities.
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