Large institutional investors are avoiding hedge funds that invest in public or initial coin offerings despite the number of products in the sector rising this year . Investors cite volatility , the potential for fraud and the lack of a track record as reasons for shunning the products . The number of funds investing either directly in bitcoin or participating in ICOs has risen to 118 , with 84 launching in 2017 , and they have a total of $ 2.2bn of crypto assets under management .
Large institutional investors are avoiding hedge funds that invest in bitcoin or initial coin offerings despite the number of products in the sector ballooning this year. Investors cite volatility, the potential for fraud and the lack of a track record as reasons for shunning the products. The number of funds investing either directly in bitcoin or participating in ICOs has risen to 110, with 84 launching in 2017, and they have a total of $2.2bn of crypto assets under management.