PwC survey sees more hedge funds investing in crypto, in spite of volatility By michael40712627
John Garvey, global financial services leader at PwC United States, said in a related: “The recent collapse of Terra vividly demonstrated the potential risks in digital assets. There will continue to be volatility, but the market is maturing and with that is coming not only many more crypto-focused hedge funds and higher AuM, but also more traditional funds entering the crypto space.”
Most traditional hedge funds are still just dipping their toes, according to the report, as 57% have less than 1% of total assets under management in digital assets. Still, for 20% of these funds, digital assets represent between 5% and 50% of AuM. Furthermore, two-thirds of funds currently investing in digital assets intend to deploy more capital into them by the end of this year.
Most crypto hedge funds traded Bitcoin at 86%; followed by Ethereum at 81%; Solana at 56%; Polkadot at 53%; Terra at 49% and Avalanche at 47%.Still, the number of traditional hedge fund managers not investing in digital assets is shrinking, down to 62% of respondents from 79% a year earlier.
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