Hedges Are Being Clipped

▪️Since 2011 cryptocurrency focused Hedge funds have founded, with 2017 being the largest year where 167 funds were incepted. Currently in the 2018 year 20 funds have founded, and the reasoning is a lack of returns. Of the 20 launched this first quarter, 9 have shut down. The co-founder of Texas-based Multicoin Capital Kyle Samani stated “New capital has slowed, even for a higher-profile fund like ours”. There is other reasoning towards the decrease in new coming capital, and that is the SEC’s ICO probe recently expanding to include cryptocurrency hedge funds. Despite this, some bulls are doubling down in preparation for the next rally, an example of which is Morgan Creek Capital, where they are reportedly seeking to raise $500 million for what would be the industry’s largest cryptocurrency hedge fund.
•••••••••••••••••••••••••••••••••••••••••••••
🗣Comment below whether or not you would put your assets into a cryptocurrency focused hedge fund
•••••••••••••••••••••••••••••••••••••••••••••
👤Follow @cryptodailyyy for more news/announcements!
•••••••••••••••••••••••••••••••••••••••••••••