Specifically revealed via a brochure on March 30th, the US SEC has provided confirmation, regarding the greenlight status the Renaissance Technologies’ Medallion Funds has acquired, to operate in the currently flourishing Bitcoin market.
Particularly, Renaissance will provide a gateway to cash-settled contracts developed by CME Group – a veteran name in the field of Bitcoin futures services.
“The Medallion Funds are permitted to enter into bitcoin futures transactions, which Renaissance will limit to cash-settled futures contracts traded on the CME,” The brochure further read.
Renaissance’s $10 billion hedge fund has reportedly managed to capture significant attention from the press, with a 24% surge year to date, in spite of the volatility the market is experiencing, given the current situation across the globe.
Meanwhile, Bitcoin futures have reportedly gained back its previous growth rate, after a drop in participation in the past weeks. As reported by CME, its products have hit the highest recorded figure for unique accounts, in March 2020, and a 161% combined yearly growth rate.