(Bloomberg) While most of the world’s institutional investors watched from the sidelines as cryptocurrencies surged last year, a small group of hedge fund managers piled in.Call them visionaries or just plain lucky, but boy did they hit the jackpot. The nine cryptocurrency hedge funds tracked by Eurekahedge Pte soared 1,167 percent as a group in 2017, according to preliminary figures from the data provider, which doesn’t disclose details such as assets under management or individual returns. While that trailed the 1,403 percent gain in bitcoin, it comfortably trounced the 8 percent return by hedge funds globally.
Bitcoin Frenzy Helps Crypto Hedge Funds Reap 1,100% Gains
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