How bitcoin frenzy has helped crypto hedge funds reap 1,100% gains in 2017

Hedge funds offer investors more than just a wager on rising cryptocurrency prices

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 per cent 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 per cent gain in bitcoin, it comfortably trounced the 8 percent return by hedge funds globally.

The numbers