UK Hedge Fund Man Group Mulls Bitcoin Futures Offering

British hedge fund Man Group's CEO Luke Ellis told Reuters Tuesday that the company would add bitcoin to its investment portfolio.

AccessTimeIconNov 15, 2017 at 7:00 a.m. UTC
Updated Aug 18, 2021 at 7:28 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

The CEO of the Man Group, a major U.K.-based hedge fund, is reportedly eyeing an entry into the cryptocurrency space in light of a pending derivatives product launch by CME Group.

According to Reuters, CEO Luke Ellis indicated that if the CME proceeds with its plans to list a bitcoin futures contract – possibly as early as next month – the hedge fund that claims more than $100 billion in assets under management could make cryptocurrency as part of its "investment universe."

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • The chief executive was quoted as saying:

    "It's not part of our investment universe today – it could be. If there is a CME future on bitcoin, it would be."

    In the event that the Man Group makes the proverbial leap to investing in cryptocurrencies – Ellis didn't offer any clues beyond the hint related to CME – it would be the latest firm of its kind of enter the market.

    His remarks come on the heels of CME announcing that it would launch its bitcoin product by the end of 2017. At the time it announced the product, the company was still waiting on approval from regulators. CME Group CEO Terry Duffy then made waves earlier this week when he said that the futures contract could launch as soon as mid-December.

    Disclosure: CME Group is an investor in Digital Currency Group, CoinDesk's parent company.

    Markets graph image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.