institutional investment
Fidelity to beef up crypto unit by another 25% with 100 new hires
$4.5 trillion asset management firm Fidelity Investments is reportedly set to hire another 100 people to bolster the firm’s growing digital assets division — a stark contrast to the recent squeezing out of crypto-talent. A Fidelity representative told Bloomberg on Oct. 22 that the firm has begun a new round of hiring which will bring the Fidelity Digital Asset’s headcount to around 500 by the end of the first quarter of 2023. A search on Fidelity’s job board currently shows 74 live results for digital asset-related positions, which cover areas relating to blockchain technology, business analysis, customer service, finance and accounting, product development, and corporate services including compliance. Almost all of the current listings are based in the United States — wi...
Institutional investors headed for a tipping point on crypto — Apollo Capital
Henrik Andersson, CIO of crypto asset fund manager Apollo Capital believes institutions may soon “flip” on their conservative stance towards crypto. Speaking to Cointelegraph, the Melbourne-based crypto fund manager said that while institutional interest in crypto has been slow in picking up, particularly in Australia, there are a lot of players that are waiting for the right moment to strike. Andersson admitted that major institutional investors in Australia, particularly retirement funds (or superannuation funds) have yet to warm up to the digital asset space. “It’s still early days. So yes, speaking to a lot of family offices in Australia and smaller boutique institutions. The big industry super funds are not there yet.” “From their point of view its still a lot of education going...
Bitcoin has risen 7% to 36% in the first week of January each year since 2018
Some crypto market analysts are highlighting the potential for a green first week on the crypto markets in January as part of what economist and trader Alex Krüger calls the “first week of the year effect.” Krüger pointed out in a Dec. 29 tweet that for the past four years straight, Bitcoin (BTC) has enjoyed positive returns in the first week of January ranging from 7% to 36% between 2018 and 2021. In 2021, BTC grew from $28,653 to $41,441 in the first week of Jan. When asked what had happened in previous years, Krüger replied, “tbf only 2020 and 2021 matter, different markets, so do with those two data points as you will”. Still expect a strong crypto up market in early Jan driven by fund inflows. Then risk-off ahead of the next FOMC (Jan/26) if the next inflation print comes in too hot (...
