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Crypto market "starting to knock on the doors" of big bond funds

Crypto investors are asking big institutions for loans against their virtual assets, even in the staid world of bond investing, said TCW Group portfolio manager Bryan Whalen.

Photo: OZAN KOSE/AFP / AFP

Investors in digital currencies such as Bitcoin are increasingly seeking loans from large institutions, Whalen said during a panel discussion Thursday at the Morningstar Investment Conference.

"The market is starting to knock on the doors of big institutions, even in the bond world," said Whalen, a managing director in TCW's fixed-income group, which oversees about USD 225bn. "What I’ve found has crept our way is incoming inquiries about the question of lending against crypto."

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