CoinShares Launches HAL Algorithmic Trading Tool for Seamless Retail Investing

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by Tolu Ajiboye · 3 min read
CoinShares Launches HAL Algorithmic Trading Tool for Seamless Retail Investing
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According to CoinShares, its algorithmic trading tool HAL, will offer a suite of assistive services for better retail investing.

CoinShares has launched an algorithmic trading tool for retail investors. The leading digital asset management company made the release announcement on Tuesday, saying that the product is initially launching in Europe. Speaking on the tool CoinShares calls HAL, the company’s chief executive officer Jean-Marie Mognetti said:

“We are delighted to launch HAL under CoinShares. We acquired Napoleon, which created Napbots, because we could immediately see our common goals: to democratise access to, and educate investors about, trading crypto assets.”

In addition, Mognetti also added:

“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 ‘hodl’.”

Details on New CoinShares Algorithmic Trading Tool

HAL seeks to make crypto trading easier by offering all users of exchanges access to trading algorithms designed by CoinShares’ quants. Furthermore, although initially launching in Europe, HAL will integrate with major exchanges and seek to expand progressively. CoinShares explains that the HAL launch is part of a broader plan to improve crypto trading. This comes after this same integrated strategy adequately enabled exposure “to digital assets to traditional finance players via its suite of crypto ETPs.”

According to Mognetti, HAL’s ease and functionality will help users delegate their trading requirements in a fast-moving weekly market. He also stated crypto users can delegate to HAL in a few clicks instead of frequently using their phones.

HAL costs retail investors €19.90, or $19.88 per month. However, users can choose to opt-out of this subscription anytime. Also, while on active subscriptions, users are privy to a limitless number of strategy selections.

According to CoinShares, HAL is the only platform of its kind to offer seamless access to professionally curated trading strategies and algorithms. In addition, the digital asset management firm emphasizes the proven track record and experience of its crypto trading catalogue providers. This is different from many other confusing advanced trading marketplace offerings utilizing bots designed by non-professional traders.

CoinShares also notes that it is continually working on improving existing strategies and regularly developing new indices.

HAL-Naming Inspiration

HAL derives its name from the early Bitcoin contributor Hal Finney as well as Stanley Kubrick’s 1968 film, 2001: A Space Odyssey. In Kubrick’s critically-acclaimed movie, HAL 9000 is a computer with a human personality.

According to Mognetti, CoinShares frequently deploys Sci-Fi-inspired names to its new product lines and servers.

CoinShares Q2 2022 Report

Early last month, CoinShares released its earnings report for the second quarter, which showed a 128% loss in adjusted earnings. According to the company, this substantial decline was due to the de-pegging and eventual collapse of the Terra.

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