A steady rise in Bitcoin price and a flurry of institutional adoption have helped crypto hedge funds achieve steep gains.
Finance Magnates reports that despite all the challenges at the start of 2020, cryptocurrency hedge funds have outperformed non-crypto hedge funds by a significant margin. A steady price rise since March, strong fundamentals and a flurry of institutional adoption in recent months helped crypto hedge funds achieve record gains.
Vision Hill’s Composite Index, which tracks the performance of actively managed cryptocurrency hedge funds, showed a return of 126% in 2020. BarclayHedge, a data group that tracks more than 7,100 traditional hedge funds, stated that the non-crypto hedge fund sector showed a 0.92% return at the same time.
Institutional adoption of cryptocurrencies gathered momentum this year as large-scale organizations like PayPal, Square, Microstrategy and Fidelity made significant announcements. Recently, the largest bank in the United States, JPMorgan Chase announced that a large technology client has already begun using its cryptocurrency dubbed as to settle payments worldwide. It will be interesting to see who’s next and…
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