In the latest report by analyzing the international digital assets hedge funds landscape, PwC stated that the total AUM grew to $3.8 billion from $2 billion two years ago. The third annual report by the prominent tax and financial advisory firm stated that Bitcoin led the surge, with more than 92 percent of the market.
BTC was followed by the second most popular crypto asset Ethereum and Litecoin, which accounted for 67 percent and 34 percent, respectively. Besides that, as much as 20 percent of the total hedge fund surveyed by the firm and accounted for $180 billion are now investing in the crypto assets – three percent of the total AUM.
The report also found that nearly 86 percent of the hedge funds invested in digital assets plan to pump more money into the crypto market. In an interview with a crypto news website, a top official from the PwC said,
This year for the first time, we also covered the traditional hedge funds in the space and what has been really remarkable is that according to the data — 46% of traditional hedge funds representing about US$180 billion in AUM have either invested in crypto or very close to doing so.
Additionally, the report highlighted that the regulator’s uncertainty remains their major concern, with almost f50 percent of those surveyed backed the statement. Plus, the lack of crypto infrastructure and custody were also identified as some major concerns of investors.