PwC fintech and crypto leader for Asia, Henri Arslanian stated in a press release:
“The crypto hedge fund industry today is probably where the traditional hedge fund industry was in the early 1990s. We expect the industry to go through a rapid period of institutionalisation and implementation of sound practices over the coming years.”
Crypto Winter has had affected other industry sectors as well, in particular, those who are associated with cryptocurrency mining. The said industry observed dramatic fluctuations in profitability as prices dropped, triggering staff cuts and downsizing. For instance, crypto mining service, Coinhive is set to Bid Adieu By March.
Bin Ren, the CEO of digital asset managed Elwood, shared the optimism for the future while co-managed the survey with PwC. He commented:
“This broader interest from investors and regulators is undoubtedly a positive step towards digital assets being recognised as an asset class with true viability and longevity.”
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