Crypto Hedge Fund Survivors Lost 46% in 2018, PwC Analysis Shows

The symbols of Bitcoin and Ethereum cryptocurrencies sit displayed on a screen during the Crypto Investor Show in London, U.K., on Saturday, March 10, 2018. The meeting is the largest crypto and blockchain event for investors in the U.K.Photographer: Mary Turner/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Alastair Marsh

May 13, 2019 at 1:35 PM UTC

This article is for subscribers only.

The cryptocurrency hedge funds that survived the 2018 market collapse lost almost half their assets, according to the most comprehensive accounting of its impact on the industry.

They lost an average 46% -- Bitcoin plunged 72 percent -- with quantitative funds eking out an 8 percent gain, said the report published on Monday by consulting firm PwC and Alan Howard’s crypto investment firm, Elwood Asset Management. They called it the first annual global crypto hedge fund report.