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Asset manager Apollo Takes a Step Into the Crypto Sector

Apollo Global Management Inc., an asset manager with more than $500 million in assets under management (AUM), has found its way into the crypto sector.

By Finst News
• 1 min read
Asset manager Apollo Takes a Step Into the Crypto Sector

Apollo Global Management Inc, an asset manager with more than $500 million in assets under management (AUM), has found its way into the crypto sector.

In collaboration with Anchorage Digital, Apollo will custody cryptocurrencies for its clients in the future. Despite stagnant prices, Bitcoin and the rest are growing more popular with institutional investors. "Crypto is here to stay," says Diogo Mónica, president of Anchorage Digital.

He adds: "Crypto is a long-term technology, and for institutions short-term fluctuations don’t matter as much."

It is currently unclear which cryptocurrencies Apollo will offer in America.

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