$10.7 Trillion Custodian Northern Trust Helping Hedge Funds Invest in Bitcoin

Financial services giant Northern Trust, which ranks 486th on the Fortune 500 list of the largest U.S. companies, has begun to wade into the cryptocurrency ecosystem.

Northern Trust Offers Services to Crypto-Curious Hedge Funds

Forbes reports that the 129-year-old Chicago-based firm, which caters to institutional investors, corporations, and high net worth individuals, has begun to open up some of its services to cryptocurrency hedge funds while also exploring how to integrate blockchain technology into its private equity division.

According to the publication, Northern Trust has for months also been working with three “mainstream hedge funds” that have begun stealthily adding cryptocurrency investments to their portfolios as they seek to gain exposure to the nascent but burgeoning crypto marketplace.

Northern Trust has an estimated $10.7 trillion in assets under custody and administration, according to its website. At present…Read More…

 

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