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Hedge funds ride 2020’s crypto boom to rally 156%

Hedge funds have warmed to cryptocurrencies as bitcoin boomed with a rally that is on track to end the year some 305% higher

By

Trista Kelley

Hedge funds overall have struggled to consistently beat returns of equity indexes. Global hedge funds gained 4.49% in November, their best month since 2009, and posted a more than 8% gain in the first 11 months of the year, hedge fund tracking firm Eurekahedge found
Hedge funds overall have struggled to consistently beat returns of equity indexes. Global hedge funds gained 4.49% in November, their best month since 2009, and posted a more than 8% gain in the first 11 months of the year, hedge fund tracking firm Eurekahedge found Photo: Getty Images

An index tracking hedge funds that invest in cryptocurrencies including bitcoin surged 52% in November, bringing the year-to-date return to a whopping 156%.

That's according to analysis and research firm HFR, which posted the performance of its HFR Cryptocurrency Index.

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