The 2018 summary of the crypto fund industry was a good news/bad news scenario, a new report from Crypto Fund Research reveals.
The good news is 239 new funds were created, with many launched early in the year, CEO Josh Gnaizda said. The bad news is 42 funds closed down as cryptocurrency prices tanked.
“The record number of new launches this year doesn’t accurately reflect the current reality,” Mr. Gnaizda said. “Nearly half of all crypto funds launched this year were launched in Q1 2018 when euphoria over prices was still peaking. Since that time, we’ve seen not only fewer launches, but also an increasing number of funds being dissolved. We expect this trend to continue in the short-term.”
Mr. Gnaizda said there is one clear influence over how many funds are created. Click here to find out what that is and to read more industry data.