Share this article
Northern Trust Is Helping Hedge Funds Invest in Cryptocurrencies
U.S.-based custody bank Northern Trust is helping traditional "mainstream" hedge funds expand into cryptocurrencies, says Forbes.
By Nikhilesh De
Updated Sep 13, 2021, 8:14 a.m. Published Aug 1, 2018, 1:00 p.m.
U.S.-based custody bank Northern Trust is helping traditional "mainstream" hedge funds expand into cryptocurrencies, Forbes reported Tuesday.
Northern Trust's president, Pete Cherecwich, told the news organization that the financial services firm is working with three hedge funds – whose names he declined to provide – to add cryptocurrency investments to their portfolios.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
To that end, Northern Trust has reportedly created new administrative tools and services specifically for cryptocurrency assets. These include tools to price and trade cryptocurrencies, according to the report.
Cherecwich said:
"You can take anything today. You can take movie rights, you can take all sorts of entities, and you can create a token for those. We have to be able to figure out how to hold those tokens, value those tokens, do those things."
Ultimately, he said, he believes governments will digitize currencies on a blockchain. As such, many of Northern Trust's efforts to integrate blockchain services are part of preparations for when fiat currencies are digital tokens.
The firm has been integrating blockchain services for over a year now. Most recently, the bank partnered with Big Four firm PriceWaterhouseCoopers to launch auditing technology for data stored on a blockchain. The project is aimed at streamlining audits by granting specific individuals a node on a bank's private blockchain, allowing them to follow data as it is stored.
Northern Trust image via Steve Heap / Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin eyes longest daily winning streak in 3 months
Bitcoin rose over 1% during Monday's Asian trading session, marking a potential five-day winning streak.
What to know:
- Bitcoin rose over 1% during Monday's Asian trading session, marking a potential five-day winning streak.
- The broader crypto market, including major cryptocurrencies like XRP, solana, and ether, also saw gains of up to 1%.
- Tax-loss selling has subsided, one analyst said explaining the upswing, while others attributed the uptick to haven demand.
Top Stories
