Pimco, an investment company that manages $2 trillion, could start trading cryptocurrencies at sight, confirmed the company’s investment director, Daniel Ivascyn, to CNBC.
The company, which has already engaged in the market through crypto-linked securities, is now looking to “trade certain cryptocurrencies as part of our trend-following strategies, and then do more work on the fundamental side,” said Ivascyn .
The investment officer continued:
This will be a gradual process, where we will spend a lot of time on the internal due diligence side, communicating with investors. We will take small steps in a fast-growing area.
The company already trades securities linked to the crypto market, taking advantage of the price differences that exist between different products.
Ivascyn also said that Pimco is paying attention to decentralized finance (DeFi), describing them as “disruptive”.
Thus, the investment giant is “thinking about scenarios in which this could ensure that we are competitively prepared to deal with what is a rapidly changing environment that offers a very significant value proposition, especially for younger generations, or the new generation of the investment community.”
Ivascyn’s comments were made after bitcoin (BTC) exceed its historic high, reaching US$ 66,000 and after the launch of first bitcoin futures ETF two United States.
With over $2 trillion under management, Pimco is one of the leading investment companies – actively investing in the fixed income, equity and alternative markets.
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