Jodie Gunzberg, who held senior roles at Morgan Stanley, explains why joined TradeBlock, was not concerned about crypto winter
Jodie Gunzberg is the former Managing Director and Chief Institutional Investment Strategy at Morgan Stanley Wealth Management. Gunzberg is an industry veteran and well-respected investment strategist with more than 20 years of asset management and consulting experience. Recently, Gunzberg is the latest high-profile Wall Street hires by crypto index provider TradeBlock.
Jodie Gunzberg joined TradeBlock as a Managing Director of CoinDesk Indexes
Former chief investment strategist for Morgan Stanley wondering where is the crypto index market sitting
Gunzberg joined TradeBlock as the Managing Director of CoinDesk Indexes on Tuesday. TradeBlock was acquired by CoinDesk in January. The crypto index provider and trading platform selected Breanne Madigan, a former Goldman Sachs executive, as its chief operating officer earlier this month.
Prior to joining Morgan Stanley in 2019, she spent nine years at S&P Dow Jones Indices in senior roles including head of US equities and global head of commodities and financials. real produce. Previously, she also worked at Morningstar and Driehaus Capital Management. Someone like Gunzberg doesn’t jump into new things easily, so her actions this time are worth mentioning.
“We were getting, through the last year, a lot of inquiries about cryptocurrency and bitcoin in particular. At first, we, or at least I, didn’t know that much about it,” she said in an interview. “So we started learning more and more about what cryptocurrency is and what bitcoin is. The more I learned, the more interesting it got, and the more that I understood, the more I realized the value of it.”
Also, don’t worry Gunzberg won’t be too knowledgeable about cryptocurrency. Because she was a math major who did a lot of computer programming in college, it didn’t take long for Gunzberg to grasp the potential of Bitcoin and its underlying blockchain.
“As I started learning about that and getting more comfortable,” she stated, “not only was it fascinating and something that I felt like I needed to be part of, but I did feel comfortable to allow clients who understand the risks that come with it, to invest in it.”
Indeed, Morgan Stanley in March became the first major US bank to offer its qualified wealth management clients access to three bitcoin funds. From there, Gunzberg fell further into the proverbial rabbit hole of learning more about crypto and she kept wondering: where is the crypto index market sitting?
Having witnessed the explosive growth of indexes and created many fixed income, hedge fund, and commodity indexes herself, Gunzberg naturally gravitates towards that side of the business.
“Indexes are really a linchpin to the financial system,” she stated. “They underlie not only active and passive strategies and feed asset allocation models, but they also underpin the derivatives market, which creates liquidity, which then allows more institutional adoption as hedging is available.”
Knowing how vital the index market is to the growth of a nascent asset class, Gunzberg set out to identify index providers in the crypto market. Before long, she came across TradeBlock, which already has $36 billion benchmarked against its indexes.
“I couldn’t resist the opportunity to be involved in developing this space,” she said. “I think that there’s a huge potential for the crypto market. Obviously, that was one of the things behind my move, I see the opportunity here.”
Jodie Gunzberg was not at all concerned about the possibility of impending crypto winter
When it comes to cryptocurrency market volatility, Gunzberg says that’s not what she’s worried about. Because, when the total market cap of all cryptocurrencies declined from a peak of $2.4 trillion in May to about $1.3 trillion as of Friday, Gunzberg affirmed she was not at all concerned about the possibility of impending crypto winter.
“I’m used to the volatility from alternative assets,” Jodie Gunzberg said. “I was focused on commodities in probably the worst decade ever for commodities, I was trading equities in the tech bubble burst, I was trading bonds for the Russian bond crisis and sovereign bond crisis… so I feel like the volatility is just part of my whole career.”
Perhaps Gunzberg is too used to and comfortable with volatility. She sees similarities between the volatility patterns of cryptocurrencies and those of other emerging assets in the past.
“I think that it’s good for crypto to experience this kind of volatility, which is really a test of the markets and they are surviving that test,” she said. “There are liquidity and volume pick-ups, which are really important also for product availability and hedging capabilities.”
There is institutional acceptance as regulatory clarity is coming and we are probably seeing more product approvals and disapprovals. Therefore, we must remain calm in the face of upcoming upheavals and changes.
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