TORONTO : Canada's biggest pension fund, CPP Investments, has ended its nearly year-long effort of studying investment opportunities in the volatile crypto market, two people familiar with the matter told Reuters.
CPPI's Alpha Generation Lab, which examines emerging investment trends, had formed a three-member team in early 2021 to research crypto currencies and blockchain-related businesses, with a view to taking potential exposure, the people added.CPPI's move also comes as two of Canada's largest pension funds have written off their investments after the collapse of crypto exchange FTX and crypto lender Celsius this year.
"You want to really think about what the underlying intrinsic value is of some of these assets and build your portfolio accordingly," Graham said in a June speech."So I'd say crypto is something we continue to look at and try to understand, but we just haven't really invested in it."