TechFlow news, according to Bloomberg, citing data from Swiss cryptocurrency investment advisory firm 21e6 Capital, out of more than 700 global cryptocurrency hedge funds this year, 97 have shut down—accounting for approximately 13% of the total. In the first half of the year, these hedge funds posted an average return of 15.2%, significantly trailing Bitcoin's 83.3% gain.
Maximilian Bruckner, Head of Marketing and Sales at 21e6 Capital, said that after the collapses of Silvergate Capital and Signature Bank earlier this year, many funds are still struggling to find new banking partners. Combined with regulatory uncertainty and competition for secure exchanges and custodians, these factors have created a series of obstacles for such funds.
Add to Favorites
Share to Social Media
