The number of cryptocurrency hedge funds increased by 100 per cent over the last four months, according to a new report, increasing assets to around $5 billion.
Data compiled by fintech research house Autonomous NEXT, hedge funds jumped from 110 in October 2017 to 226 in February 2018. Some of these funds have reported returns of more than 1400 per cent due to the fluctuation of value.
A partner from Autonomous NEXT said: “While the softer prices of crypto assets does create a more difficult environment for investors, I do not think it will pause the influx of funds and other financial institutions building products in the space.”
Funds have achieved success by not only trading cryptocurrencies, but investing early in ICOs, notes CoinSocial.