January 17, 2022

Global crypto funds post sharp gains in 2021 -BarclayHedge


A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken January 8, 2021. REUTERS/Dado Ruvic

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NEW YORK, Jan 14 (Reuters) – Global cryptocurrency funds racked up steep gains last year after most digital currencies soared in price, led by bitcoin and ether amid strong institutional interest and greater acceptance from regulators worldwide, according to BarclayHedge, a division of Backstop Solutions

The BarclayHedge cryptocurrency traders index was up 138.1% for 2021, according to data the firm posted on Friday, showing results for about 39 funds, or less than 50% of the digital asset management firms it tracks. That followed record gains of 173% in 2020, as crypto funds benefited from extreme volatility that the coronavirus pandemic stoked across financial markets.

Bitcoin gained 60% in 2021 as it hit a record peak of $69,000 in November, while ether, the token used for the…

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