Virginia county looks to crypto yield farming for pension system investments

Fairfax County, Virginia, has already allocated portions of its pension funds to crypto and blockchain investments, but it's considering wading further into the space with a larger investment in yield farming.

In a panel at the Milken Institute Global Conference today, the chief investment officer of the Fairfax County Police Officers Retirement System Katherine Molnar said the system is hoping to fund two new crypto-focused hedge fund managers in the next three weeks. Bloomberg first reported the news.

Already, Fairfax has made seven allocations to crypto over two pension funds, including venture capital funds and one structure that holds early-stage illiquid tokens and later-stage liquid tokens, according to Molnar.

Among those seven allocations is a different strategy to harness volatility. It includes a hedge fund that deploys a variety of strategies in crypto, including yield farming, basis trading, and cross-exchange arbitrage, among other activities.


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