- One hedge fund veteran told CNB that the industry dint know enough about it.
- But there has been raising interest from investors other bitcoin products in the markets.
- Bitcoin's price has rallied as much as 180 percent this year but hedge funds are still nervous about investing.
Bitcoin hit an all-time high last week, marking a year -to-date rally of 180 percent and potentially stellar returns for those for those who bet on the the cryptocurrency, but it appears hedge funds are still not ready to touch the assist class.
The lighter supervision and more sophisticated client base enjoyed by hedge funds, as well as their ongoing search market - beating alternative sources of return, provide for just some reasons why such vehicles would be expected to venture more boldly into the booming but narrowly understood market for cryptocurencies.
"To be honest, I just don't know enough about it" said a 16-year hedge fund portfolio manger veteran, who preferred to remain anonymous because he didn't want to publicly reveal investment strategy . This reflected the view of several people who CNB spoke to via phone and in person. Restrictive investment guidelines set internally was another reason cited by multiple mangers.
Rising Investment interest
Despite the current reluctance for hedge funds to get involved with bitcoins, there's growing move to try open up the cryptocurrency world to international investors. Cameron and Tyler Winkles, known for their lawsuit against facebook founder Mark Zukenberg, have been trying to get regulator approval for a bitcoin exchange traded- fund(ETF). The U.S. securities and exchange commission rejected the initial application but is now reviewing the decision after an appeal. If such product were approved, it could made bitcoin more palatable for hedge funds to invest.
Also See: Begning of Naa Peru Surya-Allu Arjun
The lighter supervision and more sophisticated client base enjoyed by hedge funds, as well as their ongoing search market - beating alternative sources of return, provide for just some reasons why such vehicles would be expected to venture more boldly into the booming but narrowly understood market for cryptocurencies.
"To be honest, I just don't know enough about it" said a 16-year hedge fund portfolio manger veteran, who preferred to remain anonymous because he didn't want to publicly reveal investment strategy . This reflected the view of several people who CNB spoke to via phone and in person. Restrictive investment guidelines set internally was another reason cited by multiple mangers.
Rising Investment interest
Despite the current reluctance for hedge funds to get involved with bitcoins, there's growing move to try open up the cryptocurrency world to international investors. Cameron and Tyler Winkles, known for their lawsuit against facebook founder Mark Zukenberg, have been trying to get regulator approval for a bitcoin exchange traded- fund(ETF). The U.S. securities and exchange commission rejected the initial application but is now reviewing the decision after an appeal. If such product were approved, it could made bitcoin more palatable for hedge funds to invest.
Also See: Begning of Naa Peru Surya-Allu Arjun
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