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Alternative Market Briefing

Crypto hedge funds hit with sharp losses in March

Thursday, April 19, 2018

Komfie Manalo, Opalesque Asia:

Cryptocurrency-focused hedge funds sustained a sharp drop last month, extending their loss to three consecutive months as prices of digital currencies plunged during the volatile period. BarclayHedge's newest index, the Barclay Cryptocurrency Traders Index, fell 29.2% fell in March (-43.1% YTD).

SolWaksman, founder and president of Barclayhedge said, "Within days of the launch of Bitcoin futures, Bitcoin rose to its all-time high of just under $20,000 on December 18 last year. Today's prices are just over $8,000. Folks have their opinions, but no one really knows if it's a bubble or a correction."

The Barclay Cryptocurrency Traders Index is an equal-weighted index of the monthly returns of a representative universe of 19 constituent funds that trade bitcoin and other cryptocurrencies. BarclayHedge started the Index in 2018.

"Based on the knowledge gained from our 32 years of experience in collecting, compiling, analyzing, and indexing performance data from alternative investment funds, we wanted to minimize statistical biases which can distort historical index returns," Waksman continued. "We chose a January 2018 start date to avoid survivorship bias, backdating and selection bias."

The data provider added that cryptocurrencies like bitcoin and its competitors enable secure, verifiable transactions that are extremely ......................

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