According to a PwC study, the assents under management (AUM) of cryptocurrency hedge funds had doubled in 2019 compared to the year 2018. Despite some challenges in the field, Bitcoin remains the most frequently traded digital asset, with Ethereum and Ripple following.
According to the PwC report, cryptocurrency funds have increased their AUM to more than $2 billion at the end of the last year, 2019. This represents a jump of over 100% from the year 2018 amount of approximately $1 billion.
Funds accepting only long positions, marked the best median performance at 40% and an average gain of approx. 42%. Discretionary long/short saw equal increases of 33% of gains and median. Quantitative funds registered a 30% median advance and even more impressive averaged gains of 58%. Such large point difference hinted that there were some outsized performers, the study added.
Around 97% of all respondents noted that they have traded with the largest cryptocurrency by market cap, Bitcoin. Ethereum (67%), XRP (38%), Litecoin (38%), Bitcoin Cash (31%), and EOS (25) were next.