CoinShares, the London-headquartered digital asset investment firm, is launching an automated trading platform for retail crypto investors.
The platform called HAL (short for Heuristically programmed ALgorithmic computer), will offer users the ability to access trading algorithms designed by CoinShares’ quants via their preferred trading exchange. CoinShares’ strategies, active 24/7, trade in bitcoin, ethereum, BNB, matic, XRP, cardano, solana, bitcoin cash and dogecoin.
The service will cost $19.90 a month, is cancellable at any time, and although there are no national restrictions, HAL is being marketed in the UK and the European Union only.
Currently offering four quantitative styles, thematic index strategies also are planned. Hal is non-custodial but executes on a user’s behalf through their preferred exchange.
Jean-Marie Mognetti, Chief Executive Officer of CoinShares, said of the HAL launch: “We are delighted to launch HAL under CoinShares. We acquired Napoleon, which created Napbots, because we could immediately see our common goals: to democratise access to, and educate investors about, trading crypto assets. In a new, still-evolving ecosystem, we are very proud to be at the cutting edge of providing professional-level products, with simple user experience, to traders – enabling them to do much more with their crypto than simply ‘hodl’.”
Automated Trading on the Rise
Automated trading, sometimes referred to as algorithmic (Algo) trading is one of the most used trading systems in today’s financial markets. According to the WSJ, auto trading accounts for almost 85% of the volumes traded in the U.S stock market.
Meanwhile, Charles Schwab, a financial services company with its own auto trading platform , predicts that $460 billion worth of assets will be managed by automated advisors by the end of 2022.
In 2021, CoinShares acquired Napoleon Group, a French Fintech company holding a European licence and offering a similar service to HAL.
