Wellington Management Company with 90-years history is going to include cryptocurrencies in some portfolios.
Wellington Management Co., the private independent investment management company, based in a Boston, USA, is going to include cryptocurrencies in some portfolios.
This successful investment management firm with $1 trillion under management focuses its attention on crypto, looking into how it could include "cryptoassets" into portfolios. The firm upgraded its systems to trade bitcoin futures. It has also started investing in crypto-related businesses.
"Some of the firm's investment teams are evaluating the potential inclusion of cryptoassets in client portfolios," the company said. "Portfolio teams would only invest in cryptoassets if explicitly permitted by client guidelines."
Wellington continues to keep cautious tactics of interaction with crypto-industry. Representatives of the company said they do not intend to carry out any risky operations with bitcoin or other known cryptocurrencies.
Nevertheless, the Wellington’s experts are studying thoroughly the markets to find the best way forward.
According to the sources, most likely the firm has invested money into AMD and NVIDIA, whose stocks have raised in recent times because of relationship with crypto mining and hardware. The rise of bitcoin price led to increase in Nvidia and AMD chips prices. Moreover, Nvidia produces chips especially for cryptocurrency mining.