Hedge Fund Research (HFR) is a firm that tracks institutional investments in blockchain tech and cryptocurrencies. And the company’s two crypto-tailored indices are showing titanic returns for the hedge funds that have taken a chance on the space so far.
The two mentioned indices in this case are the HFR Cryptocurrency Index and the HFR Blockchain Composite Index – The world firsts tracking hedge funds’s performances when it comes to crypto.
HFR president – Kenneth Heins commented:
“Investor interest in funds offering exposure to blockchain technologies and cryptocurrencies has surged in recent months.”
If you are more of a number person than words – the company’s Blockchain Composite Index has its tracking running upwards in a strong 1,520 percent only from Jan to Nov 2017 [not even a full year].
During the same time-period, the HFR Cryptocurrency Index has the tracked funds up by more than $1,600 percent.
The CIO of a crypto hedge fund explains the value in cryptocurrency pic.twitter.com/2MOJ298JA8
— Business Insider (@businessinsider) December 3, 2017
And, if recent maneuverings in the marketplace are any indication, the ongoing surge is only just beginning. That’s because Bloomberg is now reporting the $14 billion USD firm ED&F Man Capital Markets just “signed agreements with 35 hedge funds, family offices, and proprietary-trading firms to help them buy and sell bitcoin futures and is in talks with at least a half dozen more.”
That is truly quite a lot of money that will be coming as waves from the periphery of the crypto-world to its center meaning hedge funds directly buying bitcoin or other cryptocurrencies and not just ETFs and futures.
Indeed, with Coinbase launching Coinbase Custody specifically for institutional funds, it seems it’s only a matter of time before Wall Street helps cryptocurrencies go mainstream.