Canada Pension Fund CPPI Abandons Crypto Research
Reuter reports that CPP Investments (CPPI), the largest pension fund in Canada, has ended its nearly year-long investigation into potential investment opportunities in the volatile cryptocurrency market.
Early in 2021, CPPI’s Alpha Generation Lab, which studies new investment trends, assembled a three-person team to investigate cryptocurrencies and blockchain-related companies with the intention of potentially investing in them. This year, however, CPPI gave up on the endeavor and redirected the team to other tasks.
The reasons behind CPPI’s decision to stop conducting cryptographic research were not apparent. CPP Investments claimed it has not made any direct investments in cryptocurrencies but declined to comment. It made reference to earlier warnings made by the company’s CEO, John Graham, regarding cryptocurrencies.
Earlier this year, Graham stated that the pension plan did not want to engage in cryptocurrencies simply out of fear of missing out. Canadian pension funds are well-known for their thoroughness in investment approaches that produce consistent returns for pensioners, though they are not prohibited from buying cryptocurrencies.
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