According to PANews on May 26th, the latest report from 10x Research indicates that most crypto hedge funds are performing poorly. Since the end of 2017, Bitcoin has risen by over 565%, while the average crypto hedge fund returns are less than half of that, with the gap continuously widening. Data shows that the top 100 crypto hedge funds have an average return of only 272%, underperforming by 293%, which even exceeds their total returns. These funds have a correlation of up to 89% in monthly returns, making it difficult to provide effective portfolio diversification or risk hedging.
Currently, Altcoins have failed to spark market enthusiasm, with arbitrage strategies for funding rates becoming ineffective, and volatility strategies trending towards collapse. However, most funds continue to use old strategies without adapting to market changes. The real advantage lies in adopting tactical strategies, shifting to trend trading, and breaking out of conventional thinking. Meanwhile, retail funds are moving towards Bitcoin ETFs, rather than hedge funds with "higher beta coefficients", further highlighting the urgency of transformation in the fund industry.
