Hilbert Group buys Enigma Nordic in $32 million deal to boost crypto trading edge

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Source: CryptoNewsNet Original Title: Hilbert Group buys Enigma Nordic in $32 million deal to boost crypto trading edge Original Link: Hilbert Group (HILB), a Swedish investment firm specializing in algorithmic trading within the cryptocurrency market, has acquired the high-frequency trading platform Enigma Nordic in a $32 million deal.

The move grants Hilbert access to Enigma’s proprietary trading system, which executes market-neutral strategies across global cryptocurrency exchanges, the companies stated in a press release.

Enigma said it has handled over 50 billion Swedish krona (around $5.4 billion) in trading volume so far in 2025 and reports a Sharpe ratio above 3.0, a performance the firm claims is “rarely achieved in scalable, market-neutral digital asset strategies globally.”

While the $5.4 billion trading volume indicates high activity, it does not inherently signal profitability. High-frequency strategies often require massive turnover to generate thin margins. On top of that, these strategies often face what’s known as “alpha decay,” where returns diminish over time over capital deployment inefficiencies.

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