Bridgewater Associates Has Plans To Launch Its First-Ever Crypto Fund

Bridgewater Associates is the latest hedge fund looking to enter the digital asset space with a crypto fund.

According to a report, Bridgewater does not plan to allocate funds in cryptocurrencies directly, but to invest in an external vehicle.

Bridgewater, founded by legendary fund manager Ray Dalio back in 1975, has $150 billion assets under management (AUM). The size of the hedge fund’s investment is small compared to its total AUM, said sources familiar with the matter. Regardless, several top crypto investors are already in talks to invest in the fund.

Earlier this year, Bridgewater released a report called “The Evolution of Institutional Investors’ Exposure to Cryptocurrencies and Blockchain Technologies” in which it opined that the crypto markets are now big enough for positions in sizes that would be interesting to institutional investors.

Bridgewater has been actively researching the crypto space recently.

Hedge funds are seemingly warming up to crypto as a way to broaden their exposure.

In the past, Ray Dalio has been skeptical on the crypto space. Now more recently he seem to have flipped his view and even called Bitcoin – “one hell of an invention.”

He wrote:

“It seems to me that Bitcoin has succeeded in crossing the line from being a highly speculative idea that could well not be around in short order to probably being around and probably having some value in the future.”

Dalio recently spoke about his crypto investments, saying that he views it as “an alternative money in an environment where the value of cash money is depreciating in real terms.”