Research & Trading Associate

Blockstream was founded in 2014 by Dr. Adam Back and a group of fellow cryptographers and engineers who were passionate about Bitcoin and its potential to change the future of finance. Focusing on building fundamental Bitcoin infrastructure, Blockstream quickly became one of the industry's leading technology powerhouses.

Blockstream is transforming traditional financial systems by equipping enterprises and consumers with Bitcoin-based solutions that enhance efficiency, security, and scalability. Our vision is to empower the world with tools that strengthen financial security, streamline everyday use, and unlock new opportunities for growth. 

In pursuit of our vision, we’ve built a full stack of innovative products on top of the Bitcoin protocol, from layer-2 projects like Liquid and Core Lightning, to end-user software and hardware wallets like Green and Jade. Our brand stands for innovation in the Bitcoin community, and we’re growing our team to accelerate the future.

Blockstream recently launched an Asset Management Division that will manage Bitcoin and blockchain assets to achieve exceptional returns for investors and bridge the gap between Bitcoin and mainstream finance. We are looking for a Research & Trading Associate to join our team. This individual will be the tip of the spear, responsible for original research and trade execution across a wide array of digital asset platforms, both centralized and decentralized. 

What You Will Be Doing (Responsibilities):

Market Analysis and Trade Execution

• Conduct in-depth analysis of Bitcoin and related markets, including on-chain metrics, order book dynamics, market sentiment, and macroeconomic factors.
• Develop and execute trading strategies, including arbitrage, basis trading, directional trading, and options strategies.
• Backtest and refine trading strategies using historical data and advanced analytics.
• Maintain communications with centralized and decentralized exchanges, custodians, banks, ETP providers and Funds on borrow and lend rates for Bitcoin
• Monitor market trends and identify opportunities to borrow and lend Bitcoin to counterparties, leveraging data-driven insights and market intelligence.
• Execute trades efficiently across multiple exchanges, platforms, and over-the-counter (OTC) venues to maximize returns and minimize slippage.
• Manage order flows, ensuring accuracy and timeliness of trade execution.
• Utilize advanced trading tools, APIs, and automated systems to optimize execution and scalability.
• Develop and maintain trading infrastructure, and evaluate new tools, exchanges, and platforms to expand trading capabilities.
• Rebalance positions and adjust exposures to align with investment mandates and market conditions.
• Provide real-time insights and recommendations to enhance portfolio performance.

Risk Management and Compliance

• Monitor and manage the risk associated with Bitcoin and related trading positions, including exposure limits, margin requirements, and counterparty risks.
• Implement call levels, hedging strategies, and other risk mitigation techniques to protect the fund’s capital in volatile market conditions.
• Ensure adherence to the fund's risk management framework and trading guidelines.
• Ensure all trading activities comply with regulatory requirements and the hedge fund’s internal policies.
• Build and maintain relationships with cryptocurrency exchanges, OTC desks, and liquidity providers to ensure competitive pricing and reliable execution.
• Manage wallets, custody solutions, and transactions to minimize operational risks.
• Maintain accurate records of trades, positions, and P&L for reporting purposes.
• Collaborate with compliance teams to ensure adherence to anti-money laundering (AML) and know-your-customer (KYC) standards are being met in Bitcoin transactions.
• Generate reports and dashboards, highlighting key metrics such as borrow / lend rates, returns, volatility, and risk-adjusted performance.

What We Look For In You (Required Qualifications):

• Highly resourceful and internally motivated individual with a proven ability to deliver results independently and as part of a team.
• 4+ years of relevant work experience in research and trading of digital assets, preferably in a regulated private fund environment. 
• Well-versed in the bank, custodian, exchange and OTC landscape with a deep and well-developed network of professional counterparts.
• A foundational understanding of Bitcoin and blockchain concepts and markets, with a keen interest in staying abreast of industry developments.
• Excellent written and verbal communication skills, with the ability to articulate complex concepts clearly and persuasively.
• Deep understanding of both fundamental and technical analysis.
• College degree in a relevant field, such as Computer Science, Data Science, Data Analytics, Financial Mathematics, Business Administration, Economics or Finance.
• Strong skills in Python, SQL, Excel, and Tableau.
• A deep domain expertise of Bitcoin and blockchain concepts is a prerequisite to be considered for this role. 
• Prior experience developing institutional trading relationships in the digital assets space is a must. 
• We value long-term thinking, quantitative reasoning, and team-oriented individuals.

Nice To Haves (Preferred Qualifications):

• Strong attention to detail and a high bar for your craft.
• Strategic thinker with strong relationship-building skills.
• Comfortable being a sole contributor to high-impact research and trading projects.
• Been through one or two crypto winters and survived to tell us about it.
• You are a CAIA, CFA, CMT or FRM Charterholder.
• Experience in a similar role within a regulated private fund environment is highly desirable.
  
  

If you don’t tick every box above, we’d still encourage you to apply. We’re building a diverse team whose skills balance and complement one another.

Blockstream is a fully remote company, but the Asset Management Division will be centered in the San Francisco Bay Area and London. We’re focused on hiring within these hubs and people hired from these hub offices are expected to come into the office twice per week (Tuesdays and a choice between Wednesday or Thursday). From time to time, we will make rare exceptions for new hires if they need to be fully remote.

Pay Transparency Notice: Depending on your work location, the target annual salary for this position can range as detailed below. Full time offers from Blockstream also include discretionary bonus, and benefits (including medical, dental, vision and 401(k)).

Pay Range: $100,000 - $150,000