“Once a niche allocation for a few risk-tolerant hedge funds, digital assets are rapidly becoming integral to the investment strategies of most hedge fund managers as well as a growing number of institutional investors,” according to the seventh annual study of when and how hedge funds invest in digital assets conducted by the Alternative Investment Management Association and PwC. An important driver of this trend is greater regulatory clarity in the U.S. “While uncertainty remains, particularly around tax treatment and cross jurisdictional coordination, the trajectory is toward clearer ‘rules of the road’ and broader institutional acceptance,” according to the survey report. This article synthesizes the key findings from the study. See “Study Finds Increasing Hedge Fund Interest in Digital Assets” (Mar. 13, 2025).