The number of cryptocurrency hedge funds reached 120

The explosive growth of cryptocurrency attracted some of the largest players in the investment world - hedge fund managers.

29.Oct.17 11:12 AM
By Daria Zaytseva
Photo Toinnov.com

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The number of cryptocurrency hedge funds reached 120

Over the past six months, the number of crypto-oriented hedge funds has exploded, moving from 70 in August to more than 120 at the end of October.

Just last year, according to CNBC, over 90 cryptocurrency funds were launched, bringing the total amount to 124. These funds are managed by more than $2.3 billion, and a third of them use investment strategies in the style of venture capital.

The most notable addition to this is the $500 million fund launched by the founder of Galaxy Investment Partners, Michael Novogratz. A well-known investor has publicly shared his opinion that a lot of money can be made using digital currencies, even when the market moves.

This explosion in crypto hedge funds can only be in the initial stages, and a sudden surge of ICO. Despite the recent closure of some markets, such as China, and the tightening of rules in the US, ICOs have continued a significant step forward.

Many of the past ICOs have now either failed, or lost some of their first positive news, and Tezos was the first in the group. Nevertheless, the potential for a significant return made many investors dig into the next digital gold mine.

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