Three Factors Fueling the Surprising Growth of Crypto Funds

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Crypto funds have been launching at a record pace, with more than 90 new crypto funds having launched this year alone. At this rate, there will be 165 new crypto funds launched this year, more than the record 156 launched in 2017. The total number of crypto funds is now approaching 500. The surge in new funds comes amid what would seem to be an unfavorable environment for new funds. Prices for leading cryptocurrencies like Bitcoin and Ethereum have fallen by more than half since the beginning of the year. Regulators have cracked down on trading in large developing markets like China and India. In developed markets, regulation remains murky. In the U.S., investors eagerly await the approval of a Bitcoin ETF like that proposed by VanEck and SolidX, but aside from declaring a few cryptocurrencies to be commodities, rather than securities, regulators have yet to weigh in on many