Crypto hedge funds grew last year despite bitcoin losses

About 150 cryptocurrency hedge funds, which together manage over $1bn, were able to grow their assets under management threefold in 2018 despite the difficult market conditions last year. A report by PwC and Elwood Asset Management based on the 100 largest crypto hedge funds shows that as the price of bitcoin slumped by 72% last year the median crypto hedge fund lost 46%. Median assets under management grew from $1.2m in January 2018 to $4.3m in the first quarter of 2019. The repor further highlighted that the average fund AuM was $21.9m as of Q1 2019 and 60% of funds have less tha...