Over the past month, four major $100 million crypto hedge funds have debuted with strong backing from institutional investors, Wall Street, and high profile individual investors. Reality Shares, former Point72 Asset Management executive Travis Kling, and JCE Capital Management have announced the launch of $100 million hedge funds targeted at the cryptocurrency market. Most recently, former Bain Capital Ventures partner Alexander Pack and Ceyuan Ventures founder Bo Feng formed a $100 million fund called Dragonfly Capital Partners, to establish a diverse portfolio of crypto-first funds, protocols, and infrastructure-building startups.