Bitcoin's popularity among money managers is growing, despite a pushback from several Wall Street experts. There are currently 124 hedge funds invested in cryptocurrency assets as reported by Autonomous Next, one of the most respected research providers for the financial technology sector. Of those 124 hedge funds, 90 have been founded in 2017, signifying a substantial growth in interest.

Despite this impressive expansion, cryptocurrency hedge funds still comprise a tiny share of the $3.15 trillion hedge fund industry. The assets managed by "crypto-funds" currently add up to around $2.3 billion, and there is a growing number of Wall Street veterans that are staking their claim in the cryptocurrency market.

Dan Morehead, the founder of Pantera (a pioneer in the digital assets market), stated in an interview with CNBC: "I'm very, very excited and it is the opportunity of the lifetime,” adding that "It reminds me of the transformational innovations I experienced in securitization in the '80s."