Wellington Management Funds Manager Adds Cryptocurrency to his Portfolio


Recently, many big entrepreneurs and companies are embracing cryptocurrencies and blockchain as they are seeing their potential. After Goldman Sachs, JP Morgan and Bill Miller, it is now to the huge american-based Wellington Management funds company  that has more than $1 trillion in Assets Under Management (AUM) to consider adding cryptocurrency to their clients’ wallets, a Bloomberg report says.

The systems of the enterprise were upgraded, which allows trading Bitcoins in derivatives, and the founder has started to get involved in many other cryptocurrency-related companies. The company also wants to adjust its portfolios to a more open-minded view regarding mining exposures and blockchain implementation.

According to the report, “Various Wellington teams are already positioning portfolios to take advantage of mining and blockchain implementations by, for example, investing in select chipmakers making components to track and create digital coins.”

Novogratz, a fund manager, said he’s hoping to launch a merchant bank only for cryptocurrencies and ICOs.

The firm still considers Bitcoin as “cautious”, but it is only at the beginning of its analysis and the report says that many other discussions are to come.

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