Hilbert Group acquires Enigma Nordic for $32 million

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Hilbert Group (HILB), a Swedish investment company specializing in connecting traditional assets with digital assets, has acquired high-frequency trading platform Enigma Nordic for $32 million. This deal will enable Hilbert to offer systemic cryptocurrency products to institutional investors, and the company plans to integrate Enigma’s platform into its hedge funds.

According to the announcement, Enigma’s proprietary platform employs a data-driven market-neutral strategy, capitalizing on inefficiencies in real-time pricing across global digital asset markets. The company’s quantitative strategies have generated exceptional risk-adjusted returns, with a Sharpe ratio exceeding 3.0 — an extremely rare performance indicator for scalable, market-neutral digital asset strategies worldwide. By 2025, Enigma’s trading volume has surpassed 50 billion Swedish kronor (equivalent to approximately $5.4 billion).

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