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We are pleased to announce the Vision Hill Crypto Hedge Fund Indices have been updated to reflect second quarter 2020 data.

The Vision Hill Crypto Hedge Fund Indices are non-investable reference indices designed to be representative of the overall composition of the crypto and blockchain-focused hedge fund universe. The Vision Hill Composite Index is a reference index designed to be representative of the overall performance of all actively managed crypto and blockchain-focused hedge funds within our scope. We currently segment all crypto hedge funds into one of three categories, namely: 1) Fundamental, 2) Quantitative, and 3) Opportunistic.

The Vision Hill…


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We are pleased to announce the Vision Hill Active Crypto Indices have been updated to reflect first quarter 2020 data.

The Vision Hill Active Crypto Indices are non-investable reference indices designed to be representative of the overall composition of the crypto and blockchain-focused hedge fund universe. The Vision Hill Active Crypto Index (VH-ACI) is a reference index designed to be representative of the overall performance of all actively managed crypto and blockchain-focused hedge funds within our scope. We currently segment all crypto hedge funds into one of three categories, namely: 1) Fundamental, 2) Quantitative, and 3) Opportunistic.

The VH-ACI (Composite)…


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We are pleased to announce the Vision Hill Active Crypto Indices have been updated to reflect fourth quarter 2019 data.

The Vision Hill Active Crypto Indices are non-investable reference indices designed to be representative of the overall composition of the crypto and blockchain-focused hedge fund universe. The Vision Hill Active Crypto Index (VH-ACI) is a reference index designed to be representative of the overall performance of all actively managed crypto and blockchain-focused hedge funds within our scope. We currently segment all crypto hedge funds into one of three categories, namely: 1) Fundamental, 2) Quantitative, and 3) Opportunistic.

The VH-ACI (Composite)…


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Contrary to what many might think, we believe 2019 was an exceptionally interesting and productive year for the digital asset industry. We expect 2020 to be an even bigger year for the space than 2019. The trajectory of blockchain technology and the talent powering it continue to exhibit exceptional growth. As active participants in this emerging ecosystem, we observed firsthand many major emerging trends and developments in 2019 that we have consolidated into our top 10 takeaways as part of our year in review. …


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TL;DR. We are pleased to announce the Vision Hill Active Crypto Indices have been updated to reflect third quarter 2019 data.

The Vision Hill Active Crypto Indices are non-investable reference indices designed to be representative of the overall composition of the crypto and blockchain-focused hedge fund universe. The Vision Hill Active Crypto Index (VH-ACI) is a reference index designed to be representative of the overall performance of all actively managed crypto and blockchain-focused hedge funds within our scope. We currently segment all crypto hedge funds into one of three categories, namely: 1) Fundamental, 2) Quantitative, and 3) Opportunistic.

The VH-ACI…


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In traditional equity markets, beta is defined as a measure of volatility, or unsystematic risk an individual stock possesses relative to the systematic risk of the market as a whole (the latter of which has a beta coefficient of 1.0).

The difficulty in defining “market beta” in a space like digital assets is that there is no consensus for a market proxy like the S&P 500 or Dow Jones. …


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TL;DR. We are pleased to announce the Vision Hill Active Crypto Indices have been updated to reflect second quarter 2019 crypto hedge fund performance data. Please visit our website for more information.

The Vision Hill Active Crypto Indices are non-investable reference indices designed to be representative of the overall composition of the crypto and blockchain-focused hedge fund universe. The Vision Hill Active Crypto Index (VH-ACI) is a reference index designed to be representative of the overall performance of all actively managed crypto and blockchain-focused hedge funds within our scope. …


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Last updated: July 25, 2019

Expanding on our prior well-received quarterly benchmarking reports, we are proud to introduce our new Vision Hill Active Crypto Indices as a market standard benchmark for actively managed crypto and blockchain-focused hedge funds, institutional allocators, and sophisticated investors.

We want to help take digital asset active management to the next level. We believe investments should be judged in the context of a portfolio strategy as well as against the appropriate standard or benchmark. Tracking absolute investment performance is important, but it’s just as important to understand relative performance, especially when evaluating investments into different strategies…


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In November 2018, Preethi Kasireddy introduced a terrific write-up on distributed consensus. It offers robust coverage on the basics of distributed systems and their history.

At a high-level, distributed systems are about tradeoffs. Every consensus algorithm can generally be broken down into a three-step process: 1) elect, 2) vote and 3) decide. There are various ways to execute this process.

Historically, in distributed systems engineering, we have not been able to reach consensus in an asynchronous and byzantine fault tolerant (“BFT”) manner. Let’s break these terminologies down:

“Asynchronous”

The term “synchronous” refers to simultaneous action or occurrence. Therefore, “asynchronous” is…


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TL;DR. This piece builds on the work we started in Q2’18. According to Vision Hill Research, actively managed crypto hedge funds returned an average of +7.7% for the first quarter of 2019, whereas bitcoin’s quarterly return amounted to +9.7% over the same time period. The Bitwise 10 Large Cap, Bitwise 20 Mid Cap, Bletchley 10, Bletchley 20 and Bloomberg Galaxy Crypto Index put up first quarter 2019 returns of +10.6%, +16.1%, +4.7%, +40.8%, and +8.0%, respectively. It is worth noting that 60 unique data points were used for the Q1 analysis across what we perceive are the four main (open-ended)…

Vision Hill Group

An investment consulting and digital asset management firm empowering investors + clients to make better, more informed investment decisions in digital assets.

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