Investment firm Wellington Management Co. has just thrown its $1 trillion hat into the cryptocurrency ring.
According to the Boston-based investment management company’s February report, the private and independent firm is officially considering including cryptocurrencies in some portfolios, as its systems were recently upgraded to enable trading in Bitcoin derivatives. Wellington has also started taking out positions in companies related to cryptocurrency.
According to Bloomberg, the team releasing the report includes equity research analyst Matthew Lipton and trading technologies principal Lee Saba. The report says:
Various Wellington teams are already positioning portfolios to take advantage of mining and blockchain implementations by, for example, investing in select chipmakers making components [for tracking and creating digital coins].
However, it is important to note that Wellington’s official stance is one of caution. The firm has made it clear that it is not buying direct exposures in Bitcoin and related currencies.
As of right now, Wellington’s analysts are conducting extensive research into digital coins and tokens, before producing further reports on their cryptocurrency plans.
Source/More: $1 Trillion Investment Management Company Getting Serious About Crypto – Bitcoinist.com
