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Capital Markets

Bitcoin, other cryptocurrency funds jump fivefold in one year

Around $3.25 billion under management in search of savvy investments

The wealthy pour money into specialized funds that invest in digital currencies.   © Reuters

TOKYO -- Specialized funds that invest in digital currencies are multiplying across the globe, as the wealthy pour money into such funds in the same way they do into stocks and bonds.

As of the end of December, there were 175 cryptocurrency funds around the world, about five times the number at the end of 2016, according to U.K. financial research company Autonomous Next. Total outstanding assets under management were estimated at $3.25 billion, most of which came from wealthy investors.

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