Renaissance Technologies, one of the largest hedge funds in the world, got a green signal to make an investment in the futures market of Bitcoin.

The Securities and Exchange Commission (SEC), a regulatory body of the United States, on March 30, 2020, released a brochure <a href="https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=636807" target="_blank" rel="noopener">confirming</a> that the Medallion Funds of Renaissance Technologies could now make an entry into the burgeoning Bitcoin futures scene.
<h2>SEC Allows Medallion Fund</h2>
The brochure states that the CME Group, provider of Bitcoin futures, would be offered access to cash-settled contracts by the Renaissance Technologies.

It further mentions, “The Medallion Funds are permitted to enter into bitcoin futures transactions, which Renaissance will limit to cash-settled futures contracts traded on the CME”.

On April 17, 2020, the Medallion fund of Renaissance got the limelight as it gained $10 billion funds, despite the global market going down due to the outbreak of coronavirus pandemic. 
<h2>Bitcoin Price Getting Affected With Futures </h2>
According to its investor, in the year 2020, the hedge fund of the company has gone up by 24 percent. In March 2020, when the market of Bitcoin went down 60 percent, Renaissance still delivered the fund returns up to 9.9 percent.

A few weeks ago, after suffering a huge loss, Bitcoin Futures start attracting investors and reached its highest value.

The CME Group has now released its data stating that since last month, its product has reached an all-time high in terms of account uniqueness and the combined annual growth rate of its has reached 161 percent.

However, the announcement of SEC regarding the Medallion Fund has underscored distress of the institutional investors.

In the year 2019, it was reported that the dates of futures settlement manipulated the price of Bitcoin. But stock-flow-creator PlanB, pseudonymous analyst, does not believe in it. PlanB tweeted that the futures could not be held responsible for Bitcoin’s price manipulation.

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Medallion Fund To Provide Access To Bitcoin Futures

The SEC released a brochure confirming that the Medallion Funds could now make an entry into the burgeoning Bitcoin futures scene.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Medallion Fund To Provide Access To Bitcoin Futures

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