Despite a median 46% loss in 2018, crypto hedge funds pitch institutions in 2019

The median return in 2018 for cryptocurrency hedge funds was a 46% loss, even as the price of bitcoin, the largest cryptocurrency, declined 72% on the year with most other coins falling even further. A report by PwC and digital asset manager Elwood, covered by the FT, found that out of 150 funds that self-reported data, only 10 managed assets greater than $10 million.

Earlier this year, The Block reported on shifting strategies from crypto hedge funds, which were increasingly shifting to venture capital-like strategies from pure hedge fund strategies, based on lackluster 2018 returns.

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