Coinshares, the European digital asset manager, has announced it is introducing an algorithmic trading platform for retail investors.

In a nod to early bitcoin contributor Hal Finney, as well as the artificial intelligence computer in the movie “2001: A Space Odyssey,” the platform will be named HAL. For a subscription fee of $20 per month, it will offer a wide range of algorithmic trading strategies to retail investors.

The platform will serve those who want to be more active traders, as well as those who invest over the long term in crypto, but who also want to adjust their returns according to risks better under volatile conditions. Traders will be able to buy and sell cryptocurrencies directly on the platform or they can overlay it with other exchanges.

CoinShares CEO Jean-Marie Mognetti said in an interview, “Crypto is an extraordinarily volatile asset class where a lot of consumers tend to get their hands burned. Sometimes it’s because crypto is complicated, trades 24/7, and investors don’t always know what to do. 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 hold.”

Ben McMillan, founder and chief investment officer of IDX Digital Assets noted in an interview that as the costs of computing have dropped, algorithmic trading has become more accessible to regular retail investors.

McMillan said, “Not unlike the Nasdaq stocks during the dot-com boom and bust period, any time you have a high beta asset class there’s an opportunity to take a rules-based approach and frankly, make smarter decisions.”

Over the first half of the  year, Coinshares has seen a $105 million inflow into its spot exchange traded products. The company reported an $8.2 million adjusted EBITDA loss in the second quarter, which was down year over year from $28.6 million.

In December, the company acquired French fintech Napoleon for $15.8 million.

Verified by MonsterInsights