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Hedge funds look to ramp up crypto exposure as institutional interest grows

Funds investing in or exploring cryptocurrencies manage a total of $180bn

Cryptocurrencies are listed on the Gemini exchange website. Between them, hedge funds have around $180bn in assets under management, and have an average allocation of 3% to digital assets
Cryptocurrencies are listed on the Gemini exchange website. Between them, hedge funds have around $180bn in assets under management, and have an average allocation of 3% to digital assets Photo: Bloomberg via Getty Images

Nearly nine in 10 hedge funds are looking to up their investments in cryptocurrency before the end of the year, according to a new report.

Almost half of traditional hedge funds are exploring digital assets or are currently investing in them, the Alternative Investment Management Association, PwC and Elwood Asset Management found, with around a fifth of traditional hedge funds having holdings already.

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