CPPI, Canada's largest pension plan, is said to ditch crypto research

As the collapse of cryptocurrency exchange FTX ( FTT-USD ) continues to send ripples throughout the industry, CPP Investments (CPPI), the largest pension fund in Canada, has reportedly stopped mulling over investment opportunities within the emerging space . CPPI, which manages C529B (US$388B) for almost 20M Canadians, said it has not made any direct investments in crypto, Reuters reported Wednesday, citing two people with knowledge on the matter. That implies the pension plan managed to avoid taking stake in the now-bankrupt FTX, unlike peer Ontario Teachers' Pension Plan . "You want to really think about what the underlying intrinsic value is of some of these assets and build your portfolio accordingly," CPPI CEO John Graham said in earlier this year in a speech, as quoted by Reuters. "So I'd say crypto is something we continue to look at and try to understand, but we just haven't really invested in it." CPPI did not immediately respond to Seeking Alpha's request for comment. As the FTX financial contagion spreads, a number of firms have been forced to fully mark down their investments in recent weeks. SoftBank, for instance, expects to write down its almost $100M investment in FTX .