via QuoteInspector.com

Retail investors aren’t the only ones who’ve succumbed to the 2018 bear market, as recent evidence suggests cryptocurrency hedge funds are beginning to fold.

According to Anthony Pompliano, a partner at Morgan Creek Digital Assets, he received three messages in a 24-hour period late last week from crypto hedge fund managers that have decided to throw in the towel.

Pompliano revealed that these funds were relatively small in size and that the managers are interested in other opportunities in the digital asset industry. Additionally, Pompliano shared that he believes larger crypto hedge funds will be able to survive the bear market.

This report comes on the back of recent data that showed crypto hedge funds have accounted for 20% of all hedge fund launches in 2018 — a major jump from 2017 where crypto funds comprised only 6% of new fund launches. According to Crypto Fund Research, at least 90 cryptocurrency hedge funds were launched in the first three quarters of 2018 with roughly 120 in total projected for the full year.

While these numbers are encouraging, falling prices may put a damper on the actual full-year total if smaller funds truly have started liquidating.

More: Pompliano’s Tweet
Similar: Crypto Funds Account for 20% of All Hedge Funds Launched in 2018

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.