Man Group to Add Cryptocurrencies if CME Launches Bitcoin Futures
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Nov. 15, 2017

One of the largest hedge fund firms, Man Group, has expressed interest in adding Bitcoin (Bitcoin) to its portfolio if CME (NASDAQ: CME) launches their future contracts, Reuters reported.

“Conceptually digital currencies are an interesting thing. It’s not part of our investment universe today – it could be. If there is a CME future on Bitcoin, it would be,” Man Group CEO, Luke Ellis said.

“There is a big difference between a digital currency and a traditional currency...Traditional ones are supported by governments who have armies and tax men that can make people follow their rules, and digital ones don‘t,” said Ellis.

He added, however, that doesn’t invalidate digital currencies at all.

CME Group is going to introduce Bitcoin futures product in mid-December.

"When can you be able to short this product, I think sometime in the second week in December you'll see our contract out for listing," Terry Duffy, chairman and CEO of CME told CNBC.

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