Crypto Hedge Funds Are Being Hit by Shutdowns, Lagging Returns in 2023

About 13% of crypto hedge funds shut this year: 21e6 estimates
Crypto funds underperform Bitcoin in first half of the year

Crypto funds on average generated 15.2% return in the first half of 2023, underperforming Bitcoin, which gained 83.3% over the same period. — Crypto funds on average generated 15.2% return in the first half of 2023, underperforming Bitcoin, which gained 83.3% over the same period.
Photographer: Angel Garcia/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Yueqi Yang

August 4, 2023 at 2:40 PM UTC

This article is for subscribers only.

About 13% of crypto hedge funds have shut down so far this year, as weak performance and difficulties in accessing banking services weighed on the industry, according to data tracked by Switzerland-based investment adviser 21e6 Capital AG.

Crypto funds on average generated 15.2% return in the first half of 2023, underperforming Bitcoin, which gained 83.3% over the same period, the data provided to Bloomberg News showed.