Key Takeaways
- • The CIO of a crypto arm at a major multistrategy hedge fund, speaking under Chatham House rules to eFinancialCareers, said crypto trading roles demand 24/7 coverage and weekend work, with a crypto trading team now exceeding 60 people.
- • Hedge fund crypto desks rely on distributed global teams and weekend rotations, with firms such as Qube, Jump Trading, GSR and B2C2 each using different schedules to offset weekend work.
- • Risk management in crypto is described as structurally harder because of a "fragmented balance sheet" that requires systems and staff able to locate and move assets quickly.
- • Point72, Brevan Howard, Qube and Millennium are active in crypto, and returning prop traders suggest weekend staffing demands will grow.
Summary
According to eFinancialCareers, the chief investment officer of the crypto arm of a major multistrategy hedge fund described crypto trading as considerably more demanding in working hours than traditional markets. Because digital asset markets operate 24/7, the CIO said that "you need a 24/7 team" and has built a "depth of talent" across several geographies so that someone is available at any hour. His team now exceeds 60 people.
The CIO said that weekends present "often great opportunities," and that firms "need traders who are willing" to work them. The article outlines how several firms structure this. At Qube, crypto traders reportedly work four-day weeks while working every other weekend. Jump Trading's production engineers, known as 'weekend warriors,' work roughly a third of weekends per year in 12-hour shifts, with a four-day week when not on duty. GSR maintains a dedicated weekend team that takes over from weekday staff, while B2C2 covers weekends on a flexible basis and provides time off in lieu.
The article notes that crypto-native funds have long operated this way. Nikita Fadeev, founder of crypto hedge fund Fasanara Digital, told eFinancialCareers previously that he works seven days a week and that the industry requires significant commitment. The CIO also said risk management is distinct in crypto because of a "fragmented balance sheet," requiring people and systems that "know where it is at all times and know how to move it fast."
eFinancialCareers reports that Point72, Brevan Howard, Qube and Millennium are active in crypto, and that prop trading firms that previously exited the space are returning. As these teams grow and new ones form, the publication expects weekend work to increase.
The CIO said that weekends present "often great opportunities," and that firms "need traders who are willing" to work them. The article outlines how several firms structure this. At Qube, crypto traders reportedly work four-day weeks while working every other weekend. Jump Trading's production engineers, known as 'weekend warriors,' work roughly a third of weekends per year in 12-hour shifts, with a four-day week when not on duty. GSR maintains a dedicated weekend team that takes over from weekday staff, while B2C2 covers weekends on a flexible basis and provides time off in lieu.
The article notes that crypto-native funds have long operated this way. Nikita Fadeev, founder of crypto hedge fund Fasanara Digital, told eFinancialCareers previously that he works seven days a week and that the industry requires significant commitment. The CIO also said risk management is distinct in crypto because of a "fragmented balance sheet," requiring people and systems that "know where it is at all times and know how to move it fast."
eFinancialCareers reports that Point72, Brevan Howard, Qube and Millennium are active in crypto, and that prop trading firms that previously exited the space are returning. As these teams grow and new ones form, the publication expects weekend work to increase.
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