Swedish investment firm acquires high-frequency trading platform for $32 million; how a quantitative strategy with a Sharpe ratio over 3.0 is reshaping the industry landscape

2025-12-21 00:16:11

【ChainNews】Recently, Swedish investment firm Hilbert Group acquired high-frequency trading platform Enigma Nordic for $32 million. The underlying logic behind this deal is quite interesting.

Hilbert’s goal is clear—aiming to introduce more systematic cryptocurrency products to institutional investors through this integration. So, what makes Enigma attractive? Its big data-driven market-neutral strategy. Simply put, it profits by capturing price inefficiencies in the global digital asset markets in real-time.

What’s even more impressive is the platform’s track record—Sharpe ratio exceeding 3.0, which is quite rare among scalable market-neutral digital asset strategies worldwide. As of this year, Enigma has processed over 50 billion SEK in trading volume, roughly $5.4 billion. Such trading scale and risk-adjusted returns indicate that quantitative trading indeed offers genuine arbitrage opportunities in the crypto market. This acquisition, to some extent, reflects a quiet shift in traditional financial institutions’ attitude towards digital assets.

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DataChief

· 10h ago

Sharpe Ratio 3.0? That number sounds impressive, but could it just be backtested good looks and reality hitting back, a typical quantitative trap. --- Spending 32 million just for that trading volume? Feels not that cost-effective. --- Will institutional investors really buy into this market-neutral story? I'm a bit skeptical. --- 500 billion kronor sounds like a lot, but when converted to USD, it's just average, probably lots of hype involved. --- Can high-frequency trading combined with quantitative strategies survive in a bear market? Is it really avoiding pitfalls? --- What does a Sharpe Ratio over 3.0 indicate? Is it excellent risk control, or just good historical data? --- Sweden's move is interesting, but it seems like either a huge success or a complete failure, with no middle ground.

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