9 Cryptocurrency Hedge Funds Have Closed in 2018

At least 9 cryptocurrency-focused hedge funds were closed within the 1st 3 months of 2018, Bloomberg reportable Mon.

The closures embrace the group Crypto Fund and Alpha Protocol, the news service reportable. whereas Crowd Crypto Fund close up all of its digital platforms, as well as its social media presence, Alpha Protocol merely proclaimed it had been refunding its investors all of their funds. consistent with the fund's web site, the refunds were completed on March thirty one.

Even hedge funds that square measure additional firmly established have seen bated interest from investors. Bloomberg cited as Associate in Nursing example Multicoin Capital, whose co-founder, Kyle Samani, told the agency that "new capital has slowed, even for a higher-profile fund like ours."

The news comes amid a broader decline within the returns these funds receive, the agency same. Cryptocurrency hedge funds square measure seeing their returns drop a mean of twenty three %, a figure that isn't helped by a market that brought token costs all the way down to a number of the bottom levels since last year.

Indeed, solely 2 of the highest twenty five cryptocurrencies by market cap saw gains within the half-moon of 2018, as antecedently reportable. the general market capitalisation fell from $830 billion in early Jan to $251 billion last week.