- BitGo is connecting investors with hedge fund managers.
- If they work together on crypto investing, BitGo could see increased usage on its trading platforms.
- The first event was held today.
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BitGo, the crypto company that takes custody of billions of dollars' worth of institutional investors’ crypto, today announced that it's introducing crypto investors to hedge fund managers in a series of speed-dating events.
Through “capital introduction” meetings, BitGo will pair off the investors—family offices, sovereign funds, wealthy people, and so on—with hedge fund managers, who are paid huge fees to invest other people’s money.
Heavy-hitting investors are always on the lookout for the right hedge fund to carry out their financial plans, and hedge funds want the richest clients so they have more to play with—and earn. For its part, matchmaker BitGo wants everyone to use its trading platforms and custody services.
If investors like what they see, then they may work together with hedge fund managers to invest in cryptocurrencies.
This, theoretically, would be good for crypto, insomuch as more money flowing around a market is a sign of health and good cheer.
BitGo today held the first event. Mike Belshe, BitGo’s CEO, and Nick Carmi, the CEO of BitGo Prime, the prime brokerage service that BitGo offers, spoke about investing in crypto.
“[Capital Introduction] Services have been an integral part of traditional prime brokerage offerings for many years and our ability to connect our hedge fund clients with target investors further establishes BitGo Prime as a true, fully-integrated prime broker for digital assets,” said Carmi in a statement.
Subsequent roundtables (consider them marketing events) will take place each quarter in a whistle-stop tour around the world. In the first quarter of 2021 the team will go (whether virtually or physically) to Asia; in Q2, it’s off to Europe.
Among BitGo’s most popular service is custody over Wrapped Bitcoin. Wrapped Bitcoin are Ethereum tokens that represent Bitcoin. They’re backed by Bitcoin, too; BitGo holds custody over more than $2 billion worth of Wrapped Bitcoin.