Page 28 - Layout 1

Law
Continued from p26
doubled to $2 billion in the last year. Over the same period, the industry saw the percentage of crypto hedge funds with an AuM of over US$20 million increased in 2019 from 19% to 35%, broadly in keeping with the overall trends of crypto hedge funds getting larger, with average AuM increased from US$21.9 million to US$44 million, while median AuM increased from US$4.3 million to US$8.2 million.
Jonathan added: “The report doesn’t just signal growing of interest in the sector in Gibraltar but points towards impressive overall growth. This is a sign of confidence in the crypto hedge fund industry as a whole and points to greater institutional confidence in the market, something that is very important as crypto joins the ranks of established asset classes.
“For Gibraltar to have a growing share of a quickly growing market is extremely encouraging news and a testament to the
creativity of all involved in the sector”. Luke Walsh, a director and crypto-lead
at PwC Gibraltar said: “The PwC Crypto Hedge Fund Report provides an overview of the global crypto hedge fund landscape and offers insights into the industry. Gibraltar’s prominent position with regards to the percentage of funds and fund managers located in the jurisdiction adds to our positive reputation and further cements our place as a global player in the crypto industry.
Global crypto entities
“The jurisdiction’s fund offering is attractive to crypto funds looking for a crypto friendly jurisdiction that welcomes regulation and continues to attract global crypto entities.”
Joey Garcia, ISOLAS’ fintech partner, also commented: “It’s well known that Gibraltar led the way in respect of DLT and VASP regulation years ago, and the regulated DLT firms the jurisdiction has been able to
attract show this quite clearly. However, it is also great to see that the work conducted in defining specific focus points and codes of practice for virtual asset denominated funds has led to an increase in the jurisdiction placing itself as a leader in the funds space.
“As a domicile for funds in this space, it makes a huge difference having lawyers, accountants, banks and fund administrators that firmly understand the technology and asset class, and are able to deal with the intricacies that come with it.”
www.gibraltarlawyers.com
28 Gibraltar International
www.gibraltarinternational.com