On Tuesday, the CEO of Man Group indicated that his firm would dabble in cryptocurrency if CME makes a listing for bitcoin futures.
On November 14, 2017, Man Group CEO Luke Ellis told Reuters that cryptocurrency will become part of the British hedge fund’s “investment universe” if and when bitcoin futures are offered by the CME Group. With $103.5 billion in funds under management, Man Group could make waves with a cryptocurrency strategy and the hedge fund could lead the way for additional Wall Street investment.
“Conceptually digital currencies are an interesting thing,” said Ellis at the Reuters Global Investment Outlook Summit. “There is a big difference between a digital currency and a traditional currency … Traditional [currencies] are supported by governments who have armies and tax men that can make people follow their rules.” Private digital currencies like bitcoin don’t function within that sort of institutional framework.
“But that doesn’t invalidate digital currencies at all,” added Ellis.