Bridgewater Associates Prepares to Support Its First-Ever Crypto Fund: Reports

Bridgewater Associates

Bridgewater Associates is the latest hedge fund giant to tap into the digital asset space with a crypto fund, according to a recent report.

While Bridgewater does not plan to allocate funds directly in cryptocurrencies, it plans to invest in an outside vehicle, CoinDesk said in an exclusive report. Bridgewater’s AUM, founded by Ray Dalio in 1975, is $150 billion. According to sources familiar with the matter, the size of the hedge fund’s investment is small compared to the total AUM. However, many leading crypto investors are already in talks to invest in the fund. In January of this year, the company released a report titled “The Evolution of Institutional Investors’ Exposure to Cryptocurrencies and Blockchain Technologies,” in which it said the “crypto markets are now large enough to allow for positions in sizes that are relevant.” for institutional investors.” More recently, Bridgewater revealed active space exploration without disclosing further details. Hedge funds are slowly warming up to crypto as many want to increase their exposure. Last September, Brevan Howard Asset Management said it was expanding its crypto business. London-based hedge fund Marshall Wace, Steven Cohen’s Point72 and Brevan Howard are also heavily betting on the asset class. After years of being a skeptic, the founder Ray Dalio called Bitcoin – “an amazing invention” and added:

“It seems to me that Bitcoin has managed to cross the line from a highly speculative idea that might not exist in the short term, to probably be around and probably have some value going forward.”

The legendary American investor also revealed that he owns a small share of Bitcoin and noted that every investor should dedicate a small portion of his portfolio to the largest cryptocurrency.

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