Fixed-income manager PIMCO is planning to increase its exposure to digital currencies such as Bitcoin after dabbling in the asset class through crypto-linked securities, offering the latest evidence that major institutions are starting to embrace the emerging asset class.
In an interview with CNBC on Wednesday, chief investment officer Daniel Ivascyn confirmed that PIMCO already has exposure to “crypto-linked securities” through various hedge fund portfolios. He said the firm plans to gradually increase its exposure to the asset class as part of its “trend-following strategies or quant-oriented strategies.” He further explained:
“This will be a gradual process where we spent a lot of time on the internal diligence side speaking to investors. And we’ll take baby steps in an area that’s rapidly growing.”
