Prominent figure in the crypto industry, Hunter Merghart, has become the COO for digital assets at Millennium Management, the hedge fund with about $53.5 billion in assets. The appointment is confirmed on his LinkedIn.
Until June 2021, Merghart led Bitstamp’s U.S. unit, having previously spent two years as head of the trading desk at Coinbase. The appointment at Millennium will not prevent him from remaining a partner at Castle Island Ventures.
Merghart entered the crypto industry in 2018, after 12 years at Barclays, RBC Capital Markets and Credit Suisse.
According to The Block, the executive will oversee strategy development and trading operations. Millennium Management has been building its digital-assets unit since 2020. In April 2021 the firm invested in Bitcoin through the Grayscale Bitcoin Trust.
A month later, CoinDesk reported that Millennium Management, Point72 Asset Management and Matrix Capital Management were at different stages of launching cryptocurrency funds.
As reported in March 2022, Citadel’s chief executive Kenneth Griffin признал that his skepticism about cryptocurrencies had been mistaken. He hinted that the hedge fund could take practical steps in the crypto markets in the coming months.
Earlier, Orlando Bravo, co-founder and managing partner of Thoma Bravo, with assets of $83 billion, invested in Bitcoin.
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