You’d think with a bearish market in cryptocurrencies the number of hedge funds investing in them would be down. However, Crypto Fund Research says you’d be wrong.
According to a new report, 90 cryptocurrency hedge funds launched in the first three quarters of 2018, with as many as 120 by the time the year ends. Two-thirds of these operating crypto funds have launched in the last seven quarters, as of the third quarter of 2018.
There are currently 622 crypto funds of all types, said Crypto Fund Research founder Joshua Gnaizda in a statement. “In the midst of 2018’s decline in traditional hedge fund launches, crypto hedge funds are a notable aberration.”
He added, “While we don’t believe the rate of new launches is sustainable longer term, there are currently few signs of a significant slowdown.”
Crypto hedge funds were found to make up just under half of the broader class of crypto funds, which also includes crypto venture capital and crypto private equity funds.
Half of the crypto hedge funds launched so far in 2018 are based in the US, with the rest coming from around the world including Australia, China, Malta, Switzerland, The Netherlands and the United Kingdom, according to the report.
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