The company is looking to invest in blockchain technology and payment systems for digital currencies and stablecoins. Furthermore, Wace is reportedly targeting relevant privately-owned crypto companies to partner with, in view of launching its first crypto portfolio. That being said, Wace previously invested in Circle, the project behind the USDC stable coin.
As of press time, the details of Wace’s new investment portfolio are still sketchy. It is unclear whether any new investors have shown interest or not. However, considering the growing interest in crypto-related products from institutional clients, one shouldn’t expect any less in this case.
The move highlights the attractiveness of the current crypto market to investors and funds. Several big-money players have also revealed their intentions to invade the crypto industry. Andreessen Horowitz is one of such firms, whose second crypto fund totaling $2.2 billion was recently launched.
A recent survey involving 100 hedge fund chief financial officers (CFOs) revealed that about 98% of hedge funds would have invested in Bitcoin by 2026.
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Source: Cryptocurrency - investing.com
