Why a $631B Asset Manager Just Changed Its Mind on Bitcoin
In a research note intended for clients, investing giant AllianceBernstein says it changed its mind on bitcoin’s role in asset allocation.
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A reading of two recent essays by former bitcoin skeptics who have changed their tunes.
Tim Bond, a portfolio manager at Odey Asset Management, has warned that bitcoin is pointless, calling the cryptocurrency “a particularly vile asset class.” He claims that bitcoin has no real social utility other than as a tool for speculation and a means to launder the proceeds of crime. Fund Manager Sees Bitcoin as a Vile Asset Class Tim Bond, a partner and portfolio manager at Odey Asset Management, warned about bitcoin in a recent interview with Marketwatch. Established in 1991 by billionaire Crispin Odey, the firm currently has over $3 billion in funds under management.....
Vanguard, the world’s second-largest asset manager, enabled the trading of Bitcoin exchange-traded funds (ETFs) and other crypto-related products on its platform at the start of December. However, it appears that the firm’s overall view of crypto and the digital asset industry has not changed very much over time. Hence, the reversal of its longstanding position […]
European asset manager Amundi has announced its first tokenized fund in partnership with CACEIS, running on the Ethereum blockchain. Amundi Launches Tokenized Fund On Ethereum As per an announcement on the official website, Amundi has launched the first tokenized share of one of its money market funds. Headquartered in France, Amundi is an asset manager […]
The digital currency asset manager's new executives bring with them experience at firms such as Goldman Sachs, Bank of America and Ripple Labs.