Canada’s largest pension fund, CPP Investments, has stopped investing in the volatile crypto market.
While Canadian pension funds are not prohibited from buying cryptocurrencies, they are known for their risk-averse investment strategies to provide stable returns to retirees. Canadian pension funds’ interest in the crypto industry came under scrutiny after the FTX debacle.
Canadian Pension Fund Moves Away From Crypto
CPPI, which has been conducting research on the crypto industry for about two years, is giving up on crypto investments.
This move by CPPI comes as two of the largest pension funds wiped their investments after the collapse of crypto exchange FTX and crypto lender Celsius this year. However, the reasons behind CPPI’s abandonment of crypto research have not been fully clarified.
John Graham, CEO of CPPI, made the following statement on the subject:
“You really want to think about what the real value underlies some of these assets is and build your portfolio accordingly… So I would say Crypto is something we’re trying to look at and understand, but we haven’t really invested in it.”
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