Steven Cohen, founder and chairman/CEO of Stamford’s Point72 Asset Management hedge fund and owner of the New York Mets, is investing in Radkl, a startup quantitative-trading firm specializing in digital assets.
Cohen’s investment is from a personal capacity and is not being made through Point72.
Radkl, pronounced “radical,” will focus on proprietary trading and investing strategies in the cryptocurrency markets.
The scope of Cohen’s investment was not disclosed.
“While the cryptocurrency market is now a $2 trillion asset class, we are still in the early stages of institutional adoption,” said Cohen in a press statement. “As more professional investors enter this space, there’s a need for an institutional player like Radkl that engages in large digital asset transactions.”