- Canada’s biggest pension fund ends its cryptocurrency investment opportunity study.
- CPPI didn’t cite the main reasons behind the decision.
- The information was shared with Reuters by people who were familiar with the matter.
Canada’s biggest pension fund, CPP Investments, which manages over $382 billion in customer funds, has completely halted its effort to study cryptocurrency investment opportunities after more than a year of effort. The information was passed on by two people familiar with the matter to Reuters.
The exact reason for the decision is unclear. The pension fund also clarified that it has not directly invested in cryptocurrencies. Earlier in 2021, CPPI’s Alpha Generation Lab formed a three-member team. The team was deployed to analyze and study blockchain and cryptocurrency-related businesses.
However, all plans seem to have been dropped, as the sources revealed that the teams have been reassigned to different areas. One of the prominent cryptocurrency YouTubers, Coin Bureau, commented on the news, stating that given the number of Ls Canadian pension funds that have been pouring into the crypto space, the news isn’t shocking.
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