GMO Financial Holdings Buy 10% of Crypto Hedge Fund AWR Capital for Undisclosed Amount
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
:format(jpg)/www.coindesk.com/resizer/jX7WPvpd1pYeRAy6SoZTU_N_Zl0=/arc-photo-coindesk/arc2-prod/public/ISMDW3SATBA25J4ZU65XNCUANE.jpg)
Omkar Godbole was a senior reporter on CoinDesk’s Markets team.
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
GMO Financial Holdings, an investor in crypto and foreign exchange margin trading businesses, bought a 10% stake in AWR Capital, a multistrategy crypto hedge fund, according to a statement shared with CoinDesk on Monday. The price paid by the Japan-based firm wasn’t disclosed.
AWR, which is based in London, will become a market maker at one of Japan’s largest FX and digital assets exchanges, GMO Coin, a subsidiary of GMO Financial Holdings, AWR said. Market makers are entities tasked with providing liquidity on an exchange by creating buy and sell orders.
“Our investment will allow AWR to build out its services and solutions to span multiple asset classes and strategies,” Tomitaka Ishimura, COO at GMO Financial Holdings, said in the statement.
Last year, GMO Coin ranked ninth on Forbes Digital Assets’ list of the world’s largest crypto exchanges, rated according to several criteria, including regulatory compliance, cyber-security provisions and trade fees.
AWR also said it appointed algorithmic trading veteran and former group CEO of crypto market-maker B2C2 Phillip Gillespie as managing partner to lead business development strategy and scale the fund’s operations.
Gillespie’s “systematic trading expertise and extensive industry network will be of immense value to our firm as we build out multi-asset financial services offering,” Dave Askey, managing partner and founder of AWR Capital, said.
Edited by Sheldon Reback.
DISCLOSURE
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
Digital Currency Group,
which invests in
cryptocurrencies
and blockchain
startups.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
stock appreciation rights,
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Omkar Godbole was a senior reporter on CoinDesk’s Markets team.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Omkar Godbole was a senior reporter on CoinDesk’s Markets team.
