GoldenTree Asset Management, a US asset management giant with $45B in AUM, has reportedly purchased portions of the primary cryptocurrency. This move is intended to diversify some existing strategies.

  • Founded in New York City over 20 years ago, GoldenTree Asset Management has offices throughout the world, including in Tokyo, London, Singapore and Tokyo.
  • According to a report by The Street, the institution has dipped its toes in the cryptocurrency industry by purchasing an undisclosed amount of bitcoin.
  • Citing two sources with knowledge of the matter, the coverage suggested that BTC will be used to diversify the “broad mixture of debt-focused strategy it has been running for years .”
  • Furthermore, GoldenTree has reportedly had internal discussions to establish a dedicated team responsible for its cryptocurrency investments.
  • With GoldenTree, large asset managers continue to show an interest in bitcoin.
  • BlackRock is the most well-known name. The world’s largest asset manager dabbled with BTC through CME and reported gains of $360,000 in April this year.
  • Stone Ridge, another Wall Street behemoth, filed to add the cryptocurrency to its diversified alternatives funds.
  • This trend expanded outside of the US as well, with the Israeli company – Altshuler Shaham – buying BTC through the Grayscale Bitcoin Trust.

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