Hedge fund Brevan Howard Asset Management has found a new unit for the management of cryptocurrencies and digital assets that signals a growing interest in this rapidly growing asset class.
The London-based investment firm, known for its macro trading focus, said its new entity, called BH Digital, will aim to expand its reach in the crypto market. Colleen Sullivan, CEO and Co-Founder of CMT Digital, has been named a “guide” for private and venture capital investing in the sector.
The move “underscores the company’s commitment to rapidly expanding the platform and offering of cryptocurrencies and digital assets,” said Aron Landy, CEO Brevan Howard, in the statement.
The new entity will invest 1.5% of its top hedge fund budget in digital assets. Personal co-founder Alan Howard is also invested in the space and recently acquired a 25% stake in One River Asset Management, a company with a Howard-backed crypto fund.
The volatility of cryptocurrencies has become a hot topic among seasoned investors. While billionaire Paul Singer has long called the industry boom a scam, Brevan Howard has joined hedge fund giants like Paul Tudor Jones and Marc Lasry to bet on digital assets.
We invite you to join our Telegram for faster news: https://t.me/coincunews
According to Bloomberg