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

Cryptocurrency hedge funds saw losses of 46% last year on average, even as the price of bitcoin, the largest cryptocurrency, declined 72% on the year with most other coins falling even further.

Moreover, a report by PwC and digital asset manager Elwood found that only 10 funds out of 150 manage more than $10 million in assets, as per the Financial Times. The report noted regulators are increasing their oversight of the nascent cryptocurrency space, where funds often operate without the consistent administration, board of director oversight and net-asset value reporting of more established sectors.

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