Categories: Market

$ 2.2 trillion asset management giant PIMCO plans to buy more cryptocurrencies

According to Chief Investment Officer Daniel Ivascyn, US fixed income management giant PIMCO has invested in cryptocurrencies and plans to invest more in digital assets.

In an interview with CNBC on Wednesday, Chief Investment Officer Daniel Ivascyn confirmed that PIMCO had exposure to “crypto-related securities” through various portfolios. He said the company plans to gradually increase its exposure to the asset class as part of a “trend-following or quantum-driven strategy.”

“This will be a gradual process, we’ve spent a lot of time talking to investors. And we’re going to take small steps in a rapidly growing area. ”

His comments come as Bitcoin hits an all-time high following the successful launch of the first U.S. Bitcoin futures ETF. It is considered a turning point for the burgeoning crypto industry, which has long led to greater adoption of digital currencies on Wall Street.

“You need to understand decentralized finance (DeFi) because it will be disruptive and most likely disrupt our centralized finance industry,” said Ivascyn. PIMCO is considering strategies that can help us ensure that the company is competitively prepared for the rapidly changing environment, especially for the younger generation of the investment community.

Founded in 1971, PIMCO is one of the world’s largest asset managers with a focus on active fixed income securities. The company’s total assets under management as of December 31, 2020 were $ 2.2 trillion.

Institutions have invested in cryptocurrencies for much of 2021, reflecting the growing mainstream adoption of digital assets. A survey by Nickel Digital Asset Management in September found that nearly two-thirds, or 62 percent, of global institutional investors with no exposure to cryptocurrencies planned to make their first investments within 12 months. Meanwhile, institutional capital has been a major driver of crypto trading, which rose 706% in Asia over the past year, according to data from Chainalysis.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Sherlock Holmes

According to AZCoin News

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Shiba Inu (SHIB) and Ripple (XRP) Sell Off Post-US Election? Traders Double Down on DTX Exchange Instead

Shiba Inu (SHIB) and Ripple (XRP) may experience a sell-off after the initial rally. Meanwhile,…

26 mins ago

Bitcoin Spot ETF Inflows Reach $622M With Record Daily Turnover

Bitcoin spot ETF inflows reached $622M on Nov. 6, with record daily turnover of $6.07B.…

59 mins ago

Dogecoin Price Rally: DOGE, Shiba Inu, And WallitIQ Go Head To Head For Dominance, Which Should You Buy?

Dogecoin price goes head to head with Shiba Inu (SHIB) and WallitIQ (WLTQ) for dominance…

4 hours ago

Avalanche Foundation Completes Acquisition of 1.97M AVAX From LFG

The Avalanche Foundation has completed the repurchase of 1.97 million AVAX tokens from the Luna…

4 hours ago

FTX Co-Founder Gary Wang Hopes Not to Go to Jail

FTX co-founder Gary Wang requested a non-custodial sentence due to his limited role in the…

5 hours ago

Bitcoin Millionaire With Over 2,000 BTC Predicts This Ethereum Token Will Outperform Solana And Cardano By 700x

A Bitcoin millionaire with over 2,000 BTC says this Ethereum token, ETFSwap (ETFS) will perform…

14 hours ago

This website uses cookies.