Gibraltar “jurisdiction of choice” for crypto hedge funds 

Gibraltar has made it into the top three crypto hedge fund domiciles behind the Cayman Islands and United States, a study by PwC and Elwood Asset Management has found.

The report estimates that total assets under management of global crypto hedge funds increased to nearly $3.8 billion in 2020, up from $2 billion the previous year. 

Nearly 10% of global actively managed cryptocurrency funds were domiciled in Gibraltar, with 34% in the Cayman Islands and 33% in the US.

While the Cayman Islands and the US maintained their position as the top-two places where crypto hedge funds are domiciled, their market share declined overall. 

Meanwhile, Gibraltar overtook the British Virgin Islands and Luxembourg, pushing down Liechtenstein to less than 5%.   

Luke Walsh, a director and crypto-lead at PwC Gibraltar, said: “Gibraltar’s global leading position in the crypto and fintech space is a testament of its commitment to keep at the forefront of financial and technological innovation. 

“The jurisdiction’s fund offering is appealing to crypto fund investors and managers, particularly as regulation continues to evolve, which is very exciting, and it positions the jurisdiction as a jurisdiction of choice for crypto funds and other crypto businesses.”

© 2021 funds europe

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