If the most recent development continues, it seems like cryptocurrency targeted hedge funds may very well be on the best way out.
In response to specialist researchers, Crypto Fund Analysis, greater than 70 hedge funds specializing in investments into digital asset tasks have closed this 12 months, Bloomberg reports.
Nearly all of the closures recognized got here from North America and Europe, with 28 and 23 respectively.
This development runs opposite to current research from Fidelity Investments that recommended institutional investments in cryptocurrency had been prone to enhance over the approaching 5 years.
Buyers are reportedly nervous about venturing too deep into the cryptocurrency market due to its volatility and lack of regulation.
As governments look to clamp down on digital asset tasks from tech giants like Fb, the way forward for cryptocurrencies — from an institutional perspective a minimum of — seems more and more unsure.
Revealed December 5, 2019 — 08:57 UTC