Ontario Teachers’ Pension Floats With FTX Trading Amid Crypto Volatility

Ontario Teachers’ Pension Plan (OTPP), Canada’s leading occupational pension company, has revealed that its FTX trading bet carries the lowest risk of any asset class cryptographic, Reuters reported on Tuesday.

The pension fund company further said that its investment in the FTX crypto trading platform has grown well during these uncertain times.

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The Ontario Teachers’ Pension Plan comments came after another Canadian pension fund company called Caisse de depot et placement du Quebec announced in August that it was canceling its entire $150 investment. million into crypto lending platform Celsius Network after the lender filed for bankruptcy this year.

The Ontario Teachers’ Pension Plan, the third largest pension fund in Canada, manages net assets of $227.7 billion. Last October, the pension fund ventured into the crypto space with an investment in FTX Trading Ltd’s $420 million round of funding.

Jo Taylor, CEO of the Ontario Teachers Pension Plan, previously told Reuters: “In terms of risk profile, this is probably the lowest risk profile you can have as everyone is trading on your platform.

He further stated that the business was doing well, although he declined to comment on the size of OTPP’s investment or equity stake.

Taylor said investing in FTX Trading is part of his strategy to learn more about the crypto industry and whether it offers the right balance of risk and return.

Betting on Crypto Despite the Market Slowdown

Cryptocurrencies have come under extreme pressure this year, with the price of Bitcoin crashing by more than half, dragging other digital assets down.

Despite the decline, some large institutional investors continued to bet on this asset class. Well-known capital managers are always finding new ways to monetize investor interest, even as trading volumes and prices for Bitcoin and other cryptos have plummeted.

Early last month, a $6.8 billion Virginia pension fund firm, Fairfax County Retirement Systems, announced plans to boost returns by investing in crypto lending markets despite a crisis in the crypto industry.

Early last month, Abrdn plc, a UK-based global investment firm, entered into crypto investments by buying a stake in a regulated UK digital asset exchange, Archax.

Archax provides a platform for institutional investors to trade cryptocurrencies and tokenized securities such as fractional shares in companies. Over time, Abrdn hopes to reap “huge revenue” by giving clients access to its funds in the form of tokens as well as less easily tradable assets, such as private debt, private equity and buildings, on its platform.

Abrn’s investment came as BlackRock last month launched a Bitcoin spot trust for institutional investors through a partnership with crypto exchange Coinbase.

Also last month, Charles Schwab, the US broker and investment group, launched an exchange-traded fund (EFT) to expose investors to crypto without buying the currencies.

ETF Schwab invests in listed companies that aim to profit from offering services to crypto investors or the underlying blockchain technology.

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Ontario Teachers’ Pension Floats With FTX Trading Amid Crypto Volatility


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