kaal:claim:3409548-031

The shift of the digital asset market back from the ICO model to the venture model since late 2017 has reduced, not increased, diversification for investors.

Source quote, verbatim
Since late 2017, the market for digital assets has moved back from the ICO model to the venture model, leading to less diversification.
From

Kaal, Financial Technology and Hedge Funds (2019), III.3 Diversification, p. 28
https://ssrn.com/abstract=3409548 · source PDF

Cite as

Kaal, Financial Technology and Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3409548

Holds when
Classification

empiricalsupport: arguedfailure: Diversification loss from the retreat to venture fundingfamily: investor-protection-gapsecurities-lawinnovationsystemic-risk

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