The vast majority of managed futures hedge funds have declared they have no plans to trade in bitcoin's nascent futures contracts, compounding a poor week for the cryptocurrency in which its value has crumbled. Futures contracts in bitcoin — the price of which had been surging — were launched by the Chicago Board Options Exchange and the CME Group last month in a sign the market for cryptocurrencies was maturing. However,...
Four out of five managed futures trading funds have no plans to trade digital assets and almost three quarters believe the cryptocurrency adds no value to a diversified portfolio , according to a survey by BarclayHedge . Of 55 respondent firms across the country , a third quarter digital currencies are a " bad choice " not to be encouraged and 60 % said bitcoin futures would be " inconsequential " in 12 months ' time . Six of the world 's biggest asset managers , including Schroders and Man Group , recently announced they had no plans to invest in digital currencies .