PwC: Nearly Half of Traditional Hedge Funds Are Getting Involved in Cryptocurrency

Nearly half of hedge funds focused on traditional asset classes are now involved in cryptocurrencies, a new survey shows, as regulatory clarity and the launch of exchange-traded funds in the United States and Asia attract more investors to the cryptocurrency category. Among hedge funds trading in traditional markets, 47% hold digital assets, up from 29% in 2023 and 37% in 2022, according to the Global Crypto Hedge Fund Report released Thursday by the Alternative Investment Management Association and PwC. Of the funds that have already invested, 67% plan to keep their capital in cryptocurrencies at the same level, and the rest plan to increase their investments by the end of 2024, the survey found. (Bloomberg)