Key Takeaways
- • London-based hedge fund Marshall Wace, founded in 1997 and specializing in long/short equity, is reportedly preparing a launch portfolio to buy stakes in privately owned, late-stage digital finance companies, according to the Financial Times.
- • The firm is seeking digital-asset specialists and may later expand the division to trade digital currencies, though a spokesperson declined to comment further.
- • Marshall Wace's reported move follows a survey finding that hedge fund executives expect to allocate an average of 7.2% of cash holdings to crypto over the next five years, with 98% planning some crypto investment.
- • Peers including Brevan Howard, Point72's Steve Cohen, and Soros Fund Management have moved toward crypto exposure, reflecting wider institutional momentum.
Summary
Marshall Wace is reportedly the latest large asset manager to move into digital assets, according to the Financial Times. The London-based firm, founded in 1997 and managing more than $50 billion in assets, specializes in long/short equity. Its planned strategy would initially focus on blockchain technology, digital currency payment systems, and stablecoins, with the firm getting set to launch a portfolio that buys stakes in privately owned, late-stage digital finance companies. Other coverage has cited assets of about $55 billion, and Bloomberg reported that the firm is building a team to invest in private blockchain-related companies, hiring William Benattar for the effort.
According to unnamed sources cited by the Financial Times, Marshall Wace is recruiting staff with digital-asset expertise and could expand the young division to trade digital currencies. A spokesperson for the firm declined to comment further on the decision.
The move comes amid growing institutional demand for digital assets. A survey of hedge fund executives worldwide found that senior professionals expect to allocate an average of 7.2% of their cash holdings to crypto over the next five years, and 98% of respondents plan to invest in cryptocurrencies in some capacity during that period.
Marshall Wace is not alone. Brevan Howard has begun trading cryptocurrencies. Billionaire investors Paul Tudor Jones and Steve Cohen have also voiced support: Jones described bitcoin as a good portfolio diversifier, while Cohen, CEO of Point72, said during a webinar that he has been looking into crypto and is now "fully converted." More recently, Soros Fund Management was given internal permission to actively trade bitcoin, according to The Street.
According to unnamed sources cited by the Financial Times, Marshall Wace is recruiting staff with digital-asset expertise and could expand the young division to trade digital currencies. A spokesperson for the firm declined to comment further on the decision.
The move comes amid growing institutional demand for digital assets. A survey of hedge fund executives worldwide found that senior professionals expect to allocate an average of 7.2% of their cash holdings to crypto over the next five years, and 98% of respondents plan to invest in cryptocurrencies in some capacity during that period.
Marshall Wace is not alone. Brevan Howard has begun trading cryptocurrencies. Billionaire investors Paul Tudor Jones and Steve Cohen have also voiced support: Jones described bitcoin as a good portfolio diversifier, while Cohen, CEO of Point72, said during a webinar that he has been looking into crypto and is now "fully converted." More recently, Soros Fund Management was given internal permission to actively trade bitcoin, according to The Street.
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