Hedge Funds Hire Weekend Crypto Traders to Capitalize on 24/7 Market

Hedge funds, traditionally known for their structured trading hours, are now adapting to the 24/7 nature of digital asset markets by hiring weekend crypto traders. Firms like Qube, Virtu, and Jump are leading this shift, recognizing the need for continuous market monitoring and trading in the ever-evolving crypto landscape. This adaptation is driven by the nonstop nature of digital asset markets, which require constant vigilance and quick decision-making to capitalize on opportunities and mitigate risks.

The traditional finance sector has long operated within set hours, with weekends providing a respite from market activities. However, the crypto market operates around the clock, presenting both challenges and opportunities for hedge funds. The need for weekend traders arises from the volatility and rapid changes in the crypto market, which can lead to significant price movements even during off-hours. By hiring weekend traders, these funds aim to stay ahead of the curve and ensure they do not miss out on potential gains or fall victim to sudden market shifts.

Qube Research & Technologies, a global quantitative investment management firm headquartered in London, is hiring for a “Crypto | Quant Trader (Weekend Shift)” role in London, which requires weekend availability in addition to a four-day workweek. The role, which includes overseeing continuous crypto trading, monitoring strategy performance and risks and implementing signals and data sets, requires working every other weekend and a normal day shift four days per week. Unlike traditional financial markets that operate on fixed schedules and close on weekends, the crypto market runs 24/7. There are no closing bells, holidays or after-hours sessions, and price movements can happen at any time, even during weekends.

Other traditional finance firms are also expanding crypto hiring to cover weekends. American high-frequency trading company Virtu Financial is seeking a weekend trader in Singapore to cover digital asset activity outside of weekday trading windows. Jump Trading’s crypto division was looking to hire a weekend trader in Chicago. The position is currently not available, suggesting the company might have found the right candidate. The rise in weekend crypto roles comes as major hedge funds and trading firms are building crypto teams and infrastructure to operate around the clock.

Brevan Howard’s dedicated crypto unit, BH Digital, now boasts dozens of staff, including over 15 portfolio managers, more than 10 data scientists/traders and 20 external engineers supporting its strategies. Steve Cohen’s hedge fund, Point72, is similarly expanding. Its Cubist quant division is hiring a crypto-focused quantitative developer in Paris. In a March report, CoinShares revealed that seven of the top 10 largest holders of Bitcoin (BTC) ETF shares are now hedge funds. “Hedge funds alone now account for 41% of all 13-F Bitcoin ETF holdings, surpassing investment advisers for the first time,” the firm wrote.

Crypto continues to show volatility during weekends. In April, crypto prices tumbled after a Friday tariff announcement by US President Donald Trump. The decline continued over the weekend, which saw Bitcoin drop 7%, to $77,000 from $83,000. Crypto markets can also turn extremely volatile during weekends if hacks or breaches occur. With thinner liquidity and limited staffing, exploits timed for late Friday or Saturday can trigger rapid sell-offs, leading to sharp price drops. While hedge funds are only now hiring for weekend roles, crypto traders have long operated without breaks.

“Weekends are for working. Free time? No such thing, work time. Save your free time for the bear. For now, we grind,” altcoin trader Altcoin Gordon wrote on X. The hiring of weekend crypto traders is a strategic move by hedge funds to remain competitive in the digital asset space. It reflects a broader trend of traditional finance adapting to the unique characteristics of crypto markets. This adaptation is not just about hiring new talent but also about integrating advanced trading technologies and strategies that can operate effectively in a 24/7 environment. The shift towards continuous trading underscores the growing importance of digital assets in the financial ecosystem and the need for traditional players to evolve to stay relevant.

The move by hedge funds to hire weekend crypto traders is a clear indication of the growing influence of digital assets in the financial world. It highlights the need for continuous market monitoring and the importance of adapting to the unique characteristics of crypto markets. As traditional finance continues to integrate digital assets into its operations, we can expect to see more innovative strategies and technologies being employed to navigate the complexities of this dynamic market.