Ray Dalio’s Bridgewater Backs First Crypto Fund

    Bridgewater Associates, with $150 billion in assets under management is planning to back its first crypto fund.


    While the world’s largest hedge fund has no intention of directly investing in cryptocurrency, Bridgewater Associates is preparing to back an external vehicle, giving the clearest signal the firm is taking crypto seriously.

    The size of Bridgewater’s investment is unknown; however, a source has disclosed that the size is very small compared to the company’s total assets under management.

    Bridgewater issued a report on institutional crypto trends in January.

    Connecticut-based Bridgewater was founded in 1975 by Harvard Business School graduate Ray Dalio from his Manhattan apartment.

    In May, Dalio spoke openly about his personal holdings of bitcoin, calling the technology “one hell of an invention.”

    Mirroring London-based hedge fund Marshall Wace, Bridgewater is slated to make its crypto debut during the first half of 2022.

    “Bridgewater is in a first-half plan this year,” said one source to media outlet CoinDesk.

    “They’re planning on having a small slug of their fund deployed directly into digital assets.”

    Another person familiar with the hedge fund’s crypto trading plans said: “Bridgewater is looking to get involved. They are doing serious diligence: liquidity, service providers and whatnot.”

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