In a brochure at first dated March 30, the United States governor the Securities and Exchange Commission (SEC) confirmed that Renaissance Technologies’ Medallion Funds now have entry to the burgeoning Bitcoin futures scene.
Medallion Funds will get BTC futures go-ahead
According to the literature, Renaissance will supply entry to cash-settled contracts from CME Group, one of many two oldest-running Bitcoin futures suppliers.
“The Medallion Funds are permitted to enter into bitcoin futures transactions, which Renaissance will limit to cash-settled futures contracts listed on the CME,” it states.
Renaissance’s $10 billion hedge fund just late gained ill fame inside the press, having gained 24% 12 calendar months so far regardless of the turbulent volatility plaguing conventional markets over coronavirus.
According to traders speech the Wall Street Journal on Friday, the calendar month of March, which even detected Bitcoin plunge 60% in simply in the future, however managed to ship 9.9% returns for the fund.
Futures revivificatio continues
At the identical time, Bitcoin futures have been witnessing a return to type after troubled down participation in earlier weeks.
Nonetheless, reactions to the Medallion Funds announcement underscored continued mistrust of institutional traders amongst Bitcoin supporters. As Cointelegraph reported, suspicions final 12 calendar months centered on futures contract settlements by artificial means pressuring the Bitcoin value.
Others, corresponding to stock-to-flow creator PlanB, have in public refuted the construct futures are guilty for value manipulation.