Crypto Hedge Fund Eltican Asset Management Gains 15% Amid Market Downturn 📈

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The crypto hedge fund Eltican Asset Management, co-founded by former Balyasny portfolio manager Mehdi-Laurent Akkar, achieved a 15.2% gain in February despite significant declines in the cryptocurrency market. This follows a 2.8% gain in January for the $130 million asset fund. The fund benefited from a strategic approach that outperformed the market where Bitcoin and Ether lost over 20% and 30% respectively, contributing to a $600 billion reduction in digital assets market capitalization. Conversely, US-based Pythagoras Investments' Absolute Return strategy recorded a 5.2% loss. The increasing volatility in the crypto market is leading traditional hedge funds to expand their investments in this sector. Significant investors in Bitcoin ETFs include multi-strategy hedge funds like Millennium and Brevan Howard, among others.

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