One of World's Biggest Hedge Funds Aims to Crypto Expansion
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The UK hedge fund Marshall Wace is about to enter the cryptocurrency market, the Financial Times reports, citing sources close to the firm. The sources claim the London-based hedge fund plans to invest in blockchain, payments systems for cryptocurrencies and stablecoins.

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Particularly, the hedge fund wants to back up privately owned cryptocurrency-related companies that in final stages of development. The sources say the firm has also been looking to hire staff in the cryptocurrency sector. The hedge fund plans to expand the business rapidly and potentially add support for trading cryptocurrencies. However, the timeline of the investments remains unclear.

Survey: 98% of Hedge Funds Will Invest in Bitcoin by 2026

As iHodl earlier reported, Marshall Wace participated in a $440 million funding round for Circle, a company behind the USD coin (USDC) stablecoin. Fidelity Management and Research Company, Marshall Wace, Willett Advisors, Digital Currency Group, and FTX also joined the round.

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