Retail crypto investors aren’t the only ones suffering from massive losses in 2018, as most major institutional investment firms are down big.
The prime example comes from performance data of leading cryptocurrency investment group Pantera Capital that showed a YTD loss of nearly 73% for its Digital Asset Fund, which holds at least 20-30 different cryptocurrencies and tokens, including Augur (REP), Brave (BAT), Enigma (ENG), and 0x (ZRX).
Interestingly, this drop represents an underperformance relative to the global market capitalization change over the same period, which stands at roughly -65%. However, Pantera’s reported 22.3% loss in August is on par with the drop seen in the AltDex 100 Cryptocurrency Index (ALT100).
Losses of this magnitude are fairly unheard of among hedge funds. As a comparison, the HFRX Global Hedge Fund Index is down only -1.42% YTD in what has been a largely unforgiving global equity market through three quarters of 2018.
Nonetheless, Pantera Capital is pushing forward and has even announced a third cryptocurrency fund, with over $70 million already committed as of August.
Photo: Marco Verch / Flickr
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.