Bitcoin futures have been making headlines ever since CME Group announced that they intend to implement Bitcoin futures before the close of the year. As the deadline looms, the currency has enjoyed immense growth, which has attracted the attention of several other institutional investors. The latest to enter the cryptocurrency industry seems to the British Man Group, following the announcement of their CEO, Luke Ellis, that the firm will also launch support for Bitcoin futures in the near-future.
Man Group is a powerful force in the world of investment. Currently, Man Group boasts a total of $103.5 billion worth, which makes them the world's largest publicly traded hedge fund. In 2016 alone, the firm generated $827 million of revenue, according to their 1,250 employees. The firm's sheer size and reputation are bound to influence the cryptocurrency industry, now that they've decided to dip their toe in the pool of digital assets as well.
Man Group has a very long history and is one of the most revered institutions in the finance world. The firm was founded in the 18th century by James Man. Initially the company served as a sugar cooperage and broker firm, who’s very first order of business was to supply rum to the British Royal Navy. The company has grown extensively since its Rum supplier days, and cryptocurrency will prove to be the firm’s next frontier.
According to Ellis, Man Group is very interested in the promise of cryptocurrency. He added that the firm's decision to include Bitcoin futures will hopefully change the current investment landscape to become more accepting of the cryptocurrency.
CME Group CEO, Terry Duffy, confirmed the firm’s intended launch date of Bitcoin futures on the platform just days ago. After CME’s announcement, Bitcoin prices soared to record-breaking highs. Man Group’s interest is likely to encourage price growth in a similar manner, although, the firm’s intention has not yet been confirmed. It seems unlikely that Man Group will be able to launch Bitcoin futures on their platform before the close of the year.
Bitcoin has become a feverish topic of discussion among financial and investing circles. Bitcoin futures is likely to prove successful with institutional investors, as they can partake in the cryptocurrency in terms of speculation, without having to actually hold it.
In a recent interview with Reuter’s, Ellis proved his extensive interest and knowledge of cryptocurrency. Ellis emphasized the benefits of the decentralized nature of Bitcoin, and unlike fiat currencies, Bitcoin is not subject to rules and regulations of governments, banks, or other agencies.
Man Group is a powerful force in the world of investment. Currently, Man Group boasts a total of $103.5 billion worth, which makes them the world's largest publicly traded hedge fund. In 2016 alone, the firm generated $827 million of revenue, according to their 1,250 employees. The firm's sheer size and reputation are bound to influence the cryptocurrency industry, now that they've decided to dip their toe in the pool of digital assets as well.
Man Group has a very long history and is one of the most revered institutions in the finance world. The firm was founded in the 18th century by James Man. Initially the company served as a sugar cooperage and broker firm, who’s very first order of business was to supply rum to the British Royal Navy. The company has grown extensively since its Rum supplier days, and cryptocurrency will prove to be the firm’s next frontier.
According to Ellis, Man Group is very interested in the promise of cryptocurrency. He added that the firm's decision to include Bitcoin futures will hopefully change the current investment landscape to become more accepting of the cryptocurrency.
CME Group CEO, Terry Duffy, confirmed the firm’s intended launch date of Bitcoin futures on the platform just days ago. After CME’s announcement, Bitcoin prices soared to record-breaking highs. Man Group’s interest is likely to encourage price growth in a similar manner, although, the firm’s intention has not yet been confirmed. It seems unlikely that Man Group will be able to launch Bitcoin futures on their platform before the close of the year.
Bitcoin has become a feverish topic of discussion among financial and investing circles. Bitcoin futures is likely to prove successful with institutional investors, as they can partake in the cryptocurrency in terms of speculation, without having to actually hold it.
In a recent interview with Reuter’s, Ellis proved his extensive interest and knowledge of cryptocurrency. Ellis emphasized the benefits of the decentralized nature of Bitcoin, and unlike fiat currencies, Bitcoin is not subject to rules and regulations of governments, banks, or other agencies.