RATE Group | Cryptocurrency Hedge Funds are Shorting Ethereum, Cite Scaling Issues
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Cryptocurrency Hedge Funds are Shorting Ethereum, Cite Scaling Issues

27 Jul Cryptocurrency Hedge Funds are Shorting Ethereum, Cite Scaling Issues

Posted at 22:36h in Ethereum News by

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Despite supporting thousands of cryptocurrencies on its open-source platform, institutional investors are seemingly bearish on the broader use case of Ethereum, the world ’s second-largest digital currency by market cap.

The Big Ether Short

According to Forbes, cryptocurrency hedge funds and family offices believe Ethereum (ETH) will plummet further in 2018, despite the platform token already falling approximately 40% from its all-time high in December 2017.

Amongst the many is one Hidden Hand Capital, a San Francisco-based family office started by tech entrepreneur Timothy Young. The office reportedly handles $100 million worth of cryptocurrencies and has a “short” position in the ether.

New York-based Tetras Capital is relatively popular in cryptocurrency circles for its coin analyses, and price outlooks recently published a 41-page report explaining its ether short. While the six-person team handles a $30 million fund, founding partner Alex Sunnarborg is aggressively betting…

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