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Tags: cryptocurrency | hedge | funds | bitcoin | digital

Cryptocurrency Hedge Funds Top 100 for First Time

Cryptocurrency Hedge Funds Top 100 for First Time
(DreamsTime)

Thursday, 19 October 2017 06:56 AM EDT

Hedge funds that trade cryptocurrencies reached over 100 for the first time, according to new data from fintech research house Autonomous NEXT, of which more than three-quarters launched in 2017.

A rise from 55 funds at Aug. 29 to 110 funds at Oct. 18 comes as investors pile into the high-performing cryptocurrency market, which has seen a tenfold increase in its value so far this year.

A booming Bitcoin rallied to record highs above $5,000 in recent days.

Of the 110 funds, 84 were launched in 2017, 11 in 2016 and the remainder previously, according to the data.

Assets across the 110 funds rose to $2.2 billion.

© 2024 Thomson/Reuters. All rights reserved.


InvestingAnalysis
Hedge funds that trade cryptocurrencies reached over 100 for the first time, according to new data from fintech research house Autonomous NEXT, of which more than three-quarters launched in 2017.
cryptocurrency, hedge, funds, bitcoin, digital
107
2017-56-19
Thursday, 19 October 2017 06:56 AM
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