ETC Group: The exposure of crypto hedge funds to the Bitcoin market has fallen to its lowest level since October 2020

2024-06-19 19:31:14

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ChainCatcher news reports that, according to data from a report released by ETC Group, the exposure of crypto hedge funds to the Bitcoin market has fallen to its lowest level since October 2020.

André Dragosch, Head of Research at ETC Group, stated: "Crypto hedge funds have indeed recently abandoned Bitcoin. Over the past 20 trading days, they have reduced their Bitcoin market exposure to just 0.37, the lowest level since October 2020. It is difficult to determine the main factors behind the decline in risk exposure, as the crypto hedge fund industry encompasses many different strategies, which can be directional or market-neutral. However, it can be said that the overall net long exposure of these crypto hedge funds relative to Bitcoin as a benchmark has significantly decreased."

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