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Alternative Market Briefing

Opalesque Roundup: 100 cryptocurrency hedge fund launches expected in 2018: hedge fund news, week 17

Monday, April 30, 2018

In the week ending 27 April, 2018, FinTech reports expect nearly 100 crypto fund launches in 2018, based on the pace throughout the first part of the year. Total cryptocurrency fund assets could easily double in 2018. With 34 new launches in 2018, these funds have become the fastest growing segment of the hedge fund industry.

Fintech startup INVioU is utilizing the power of the blockchain to create new possibilities for small businesses; a survey by Thomson Reuters showed that the number of hedge funds and banks that will trade in cyptocurrencies are expected to rise this year; Bitcoin prices rose above $9,400 pushing higher as the market benefits from the return of positive sentiment; John Pfeffer predicted that bitcoin would reach '"no less than" $90,000, and that long term "it could reach $700,000".

Steve Cohen's , Point72 Ventures announced it led a $3 million investment in a startup called Extend; some of the world's largest asset managers are spending an average of £15m a year on projects to digitally transform their businesses; Pantera Capital has confirmed that it's biggest investment lies in South Korean interoperability-focused blockchain ICON; and New York Attorney General ......................

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