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wilslaw

Crypto hedge funds still raising over $100 million

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The crypto market has lost 75% of its valuation throughout the year 2018. Despite this, huge amount of money are raised from accredited institutions and investors. According to CCN reports on November 1st, over $30 million was raised by Grayscale investments from both new and existing investors.

 

Grayscale investment's managing director, Michael Sonnenshein mentioned that the substantial 69% drop in Bitcoin price had little effect on the client base of the company.

 

"Bitcoin prices doing nothing but go down the entire year has not deterred our existing clients from putting more capital to work. Asset inflows are really strong despite these price declines. Investors are taking the pullback as an opportunity to increase their exposure. The price has not slowed down the pace of investments — it’s actually caused us to broaden our relationships.”

 

Grayscale, which is a publicly tradable instrument provider of Zcash, Bitcoin, Ethereum classic and Ethereum that enable investors in the stock market to invest in the crypto market, is well known as an investment firm and digital asset manager.

 

Four major corrections were recorded by the crypto market, for the past 10 years, all of which showed more than 80% drops in valuation. Travis Kling, stressed the fact that the crypto market is just the start of exponential growth.

 

In August 1, Kling wrote "Same as that earlier invention, I believe crypto will create trillions of dollars along the way. Already the market for virtual coins is valued at hundreds of billions of dollars. And it’s all just getting started. So I left Point72, billionaire Steven A. Cohen’s hedge fund, in December to continue my investing career, but in a new asset class.”

 

Over $100 million was raised by Pantera Capital in August and it aims to raise $75 million more in order to establish a venture capital-style fund.

 

Strong Market Growth
2018 has revealed that cryptocurrency is strong and big. It is a newly emerging technology, computing system and consensus currency.

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