The reasons behind CPPI’s abandonment of crypto research were not immediately clear. CPPI declined to comment but said it has made no direct investments in crypto. It referred to previous comments on cryptocurrency by its chief executive, John Graham, in which he sounded a note of caution.Start your day with a roundup of B.C.-focused news and opinion delivered straight to your inbox at 7 a.m., Monday to Friday.
Earlier this year CPPI CEO Graham said that the pension plan, which manages $529 billion for nearly 20 million Canadians, did not want to invest in crypto merely because of the fear of missing out. “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.”