Adam Grimsley, who was a fixed income specialist for eight years at the BlackRock fund giant, and Michael Wong, who headed up fixed income asset allocation, have teamed up to launch Prime Factor Capital with Nic Niedermowwe, who entered the crypto space in early 2017 with a market-making business.
Niedermowwe will head up the new firm as chief executive while Wong and Grimsley will be CIO and head of investment solutions.
We want to become the BlackRock of crypto asset managers. Regulation is still in its early stages but it is evolving rapidly and we are working with regulators to ensure we are ahead of the game.
The trio said they have seen the most demand from family offices, high-net-worth clients, and professional investors, while they predicted institutions to move in as well eventually.