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Man Group Hedge Fund may become the next one to launch Bitcoin futures

ICO-LINK-NEWS-Man-Group-Hedge-Fund-may-become-the-next-one-to-launch-Bitcoin-futures

Bitcoin futures on major stock and commodity exchanges are the hottest topic of the month. The other day CME Group said that the launch of contract trading Bitcoins is a matter of several weeks. This will allow large investors to speculate on the price of Bitcoin, not having the most crypto currency in the portfolio. Earlier CBOE - another Chicago exchange, a competitor to CME, reported on the preparation of the launch of the stock market Bitcoin. And now the British Man Group can become the next company that will launch Bitcoin futures.

Hedge fund Man Group has significant influence, at its disposal is 103.5 billion dollars. Last year, the London firm reported revenue of $ 827 million. If Man Group enters into the game, it will be another serious incentive for the cryptocurrency.Responding to Reuters on Tuesday, 

Man Group CEO Luke Ellis said:
"Conceptually digital currencies are an interesting thing. It's not part of our investment universe today – it could be. If there is a CME future on bitcoin, it would be."

Given that CME futures aren't an 'if' but a 'when', with CEO Terry Duffy having confirmed the approximate launch date just days ago, Ellis may have been unaware of the latest developments. It seems unlikely that Man Group would be capable of launching their own futures trading contracts at such short notice. Nevertheless, the intent is clearly there, signaling that institutional investors are looking very closely at bitcoin.

All Eyes On BitcoinLuke Ellis.

In both Britain and the U.S., where Goldman Sachs have also been eyeing proceedings keenly, bitcoin has been the talk of the town. For traders eager to speculate on the price of bitcoin without getting their hands dirty, so to speak, futures contracts are ideal.

In talking with Reuters, Man Group boss Luke Ellis showed himself to have a good understanding of the cryptocurrency space. "There is a big difference between a digital currency and a traditional currency…Traditional ones are supported by governments who have armies and tax men that can make people follow their rules, and digital ones don't," he said. "But that doesn't invalidate digital currencies at all."

As a company which started life in 1783 as a sugar cooperage and brokerage, Man Group has come a long way. Founder James Man, whose first contract was to supply the Royal Navy with rum, would be astonished to see the trajectory his humble firm has taken. Having once conquered the high seas, the next target in their sights looks like it might be bitcoin.

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