According to a report by Vision Hill Advisors, the fourth quarter of last year was the worst for cryptocurrency funds.

The median value of fund losses in the fourth quarter was 18.8%, in III – 9.2%, in II – 4.3%. Nevertheless, the median value of the crypto funds yield was 25% higher than that of Bitcoin. Also, the profitability of funds in the last quarter of last year exceeded by 27% the index of the Bitwise 10 Large Cap index, which consists of the most capitalized cryptocurrencies:

The composition of the index Bitwise 10 Large Cap

“In the fourth quarter, active managers surpassed the passive holders of Bitcoin and the most capitalized digital assets. We believe that these are positive conclusions for all active industry managers who can help further promote the new class of assets among institutional investors, as well as help develop more effective strategies , ”said Dan Zuller, partner of Vision Hill Advisors.

Yield of crypto funds compared to Bitcoin and Bitwise 10

However, some companies managed to get a small profit. For example, funds using quantitative investment methods in the fourth quarter surpassed Bitcoin profitability by 40%. Their median yield was 2.9%. In addition, the loss of quantitative funds in any of the quarters did not exceed 3.1%.

The total amount of funds managed by crypto funds in the fourth quarter was about $ 4.5 billion. This is a quarter less than in the second quarter of 2018.

Earlier, BlockchainJournal published material on how Bitcoin investors survive in a bear market.

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