Iowa’s BarclayHedge says global crypto funds shelve sharp gains in 2021



by SOURAV D

Iowa’s BarclayHedge says global crypto funds shelve sharp gains in 2021

BarclayHedge, a Fairfield, Iowa-based unit of software company Backstop Solutions, had told in a statement on Saturday that global crypto funds had fetched sharp gains on 2021 as most digital assets skyrocketed amid strong interest from institutional investors alongside a greater acceptant from financial regulators across the globe.

Nevertheless, latest data from BarclayHedge that could be viewed as a silver lining for crypto traders came forth as the US-based mega-cap tech conglomerates’ immunity to sanction even lawmakers' or public representatives’ accounts which are often used for political campaigns, by capitalizing or submissively provoking a nationwide division in the country, could be seen as a foetal stage of tech titans’ domination over the nations’ policymakers which eventually will include Central Bank Governors and help foster a mainstream adoption of crypto assets, latest evidence of which could be a ban on personal Twitter account of a Republican US lawmaker, Marjorie Taylor Green.

Turning a deaf ear on Twitter and Meta platform’s role in provoking January 6 Capitol Hill riots, should not be undermined, too, suggested analysts. According to the Iowa-based American financial analytics provider, BarclayHedge’s crypto traders’ index that tracks data from 39 funds, had soared 138.1 per cent in 2021, meaning that the crypto traders’ valuations had more than doubled last year.

Nonetheless, the figure had shown a relative slow-down in crypto frenzy, as the index had scored a record 173 per cent in gains in 2020. However, latest data from BarclayHedge that underscored a gargantuan scale of gains shelved by the crypto traders last year, comes over the heels of an extremely volatile crypto market which had witnessed a nearly 40 per cent decline in valuation of Bitcoin later last year after hitting a record $69,000-level on November.

Global crypto funds’ gains snowballed last year

Besides, according to data from BarclayHedge, as cryptocurrency frenzy appeared to be calming down later last year with more investors leaning towards less riskier assets amid uncertainties on the US Federal Reserve’s interest rate decision, the data analytics provider’ cryptocurrency traders index had reported an 11 per cent in losses in December.

Nonetheless, as Bitcoin gained over 60 per cent in 2021 and its smaller rival Ethereum mushroomed nearly 400 per cent, crypto funds across the globe had managed to shelve lofty gains throughout the year but late-2021. Meanwhile, addressing to an utterly unjustified, yet growing concept that most crypto traders are not witnessing Bitcoin as a way to coffer up quick gains despite widespread scrutiny from major Central Banks around the globe, CoinDesk’s annual crypto and blockchain review for 2021 had unfurled, “There is an air of legitimacy now.

Bitcoin is no longer viewed as an esoteric digital currency used only on the fringes by techies and cypherpunks”.