There are more than 300 cryptocurrency funds in 2018
The recent bitcoin price decline and subsequent bear market put a severe dent in profit projections for hedge funds that invest in cryptoassets, but it has not prevented the sheer number of these cryptocurrency funds — and the size of their assets under management (AUM) — from swelling to record levels.
Number of Cryptocurrency Funds Surpasses Another Milestone
According to new research from cryptocurrency analytics firm Autonomous Next, the number of cryptocurrency funds has exploded to more than 300 in 2018, with 312 up-and-running when the report was completed earlier this month.
That’s a 24 percent increase from the beginning of the year when 251 funds were operational. It’s also a 457 percent surge from the 56 funds that were active in 2016.
The majority of new funds opened in the second quarter. As CCN reported, just 20 new firms entered the space during the first quarter, and nine others shut their doors due to market headwinds that made it difficult for even large funds to attract new investors.
Source: CCN News