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The Crypto market is the new destination for hedge funds to make money. As per the latest development, British Hedge fund Brevan Howard Asset Management has set up a new and dedicated cryptocurrency unit amid the rapidly developing asset class.

Dubbed Brevan Howard Digital (BH Digital), this crypto unit of the London-based investment firm will expand its reach in the crypto market. To expand its footprint in this market, Brevan Howard has hired Colleen Sullivan, chief executive officer and co-founder of CMT Digital.

At CMT Digital, Sullivan specialized in crypto trading and blockchain investments. Now, he will be chairing the investment strategy at BH Digital. Speaking of the development, Brevan CEO Aron Landy said:

“Colleen’s exceptional track record in making highly successful crypto venture investments will be of tremendous benefit to Brevan Howard clients and underscores the firm’s commitment to rapidly expanding its platform and offerings in cryptocurrencies and digital assets”.

Earlier this year, Brevan Howard made a decision to enter the crypto space. The hedge fund giant is looking to put around 1.5% of its capital in digital assets. The company’s co-founder Alan Howard has also been investing in this sector. He recently acquired a 25% stake in One River Asset Management whose crypto funds are backed by Howard.

Traditional Funds Seeking Crypto Exposure

Several hedge funds have been seeking market exposure in crypto recently. With its latest decision, Brevan Howard joins the likes of hedge fund giants hedge funds Paul Tudor Jones and Marc Lasry in betting on digital assets.

Last month, hedge fund Third Point Management also noted that it will continue to make fresh investments in crypto going further. “We will continue to pursue more of these investments in the portfolio and see opportunities for several areas of our business,” said Third Point founder and CEO Daniel Loeb.

Much recently, Virginia’s two public pension funds have also shown interest in getting exposure to crypto.

The post British Hedge Fund Brevan Howard Sets Up A Crypto Unit appeared first on Coingape.

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#Bitcoin #Crypto #Cryptocurrency



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