The cryptocurrency hedge funds that survived the 2018 market collapse
lost almost half their assets, according to the most comprehensive
accounting of its impact on the industry.
lost an average 46% -- Bitcoin plunged 72 percent -- with quantitative
funds eking out an 8 percent gain, said the report published on Monday
by consulting firm PAG and Alan Howard’s crypto investment firm, Elwood
Asset Management. They called it the first annual global crypto hedge
There are currently only around 150 active crypto hedge funds
together managing around $1 billion of assets, according to the data,
which excludes index funds and venture capitalists. Over 60 percent of
them manage less than $10 million of digital assets, a level that makes
even covering operating costs a challenge.
If 2018 was crypto winter, some crypto bulls are predicting
2019 is springtime. And current prices for Bitcoin and other major
tokens suggest a thaw may be under way: Bitcoin jumped above $7,000 and
is on its longest winning streak since 2013.