Pimco investment chief says firm will invest more in cryptocurrencies - CNBC

Allianz's (OTCPK:ALIZF) Pimco, the fixed income behemoth, has dipped a toe into cryptocurrency and plans to gradually invest more in digital assets, a sector that could shake up the financial industry, the firm's chief investment officer, Daniel Ivascyn told CNBC in an interview. "Now we’re looking at potentially trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the fundamental side," he said. He said it will be a gradual process that will require time for internal diligence in speaking with investors. "We'll take baby steps in an area that's rapidly growing," he said. The Pimco exec's comments come as bitcoin climbed to record highs, almost reaching $67K at one point, on the day after the ProShares Bitcoin Strategy ETF was launched. Some of Pimco's hedge fund portfolios are already started trading crypto-linked securities, he told CNBC. "We’re trading from a relative value perspective.