Mega hedge fund AQR Capital "is making a small indirect investment in bitcoin in an affiliated fund".

According to DL News, Cliff Asness, founder of the largest US hedge fund AQR Capital, told X: "We allocate 20% of our QMHIX fund's risk assets to alternative asset trend followers. While the definition of an alternative asset trend can be arbitrary, cryptocurrency (bitcoin) certainly falls into this category." "We analyzed the 60-day periods before and after the last two halving seasons and found that while BTC returns during the halving season were large, they were not abnormal. This is because the price of BTC rose steadily over the entire period," he added. However, he adds, "Many reports don't go deep enough into the data. Therefore, the assumption that halving leads to higher returns is not proven.