Bloomberg has reported that major hedge fund Brevan Howard has launched a new division that will manage cryptocurrencies and virtual assets with a wave of interest in crypto rising from the company.
Brevan Howard was founded back in 2002, has offices in capitals around the world, including the U.K., Singapore and Geneva, with over 60 portfolio managers working in them, as well as a team of over 200 staffers.
Yuri MolchanBH Digital will expand the firm's crypto market reach
Brevan Howard is based in London and is mainly dealing with macro trading. It has now created a crypto-focused unit, BH Digital. Colleen Sullivan, CEO and co-founder of CMT Digital, will spearhead BH Digital's investment activities in the crypto market, as per the statement made earlier today.
This move emphasized the company's firm intention to start broad expansion into the cryptocurrency market, according to Aron Landy, the chief of Brevan Howard.
Earlier this year, the hedge fund decided to invest up to 1.5% of its capital into the crypto market. One of the co-founders, Alan Howard, also owns a 25% stake in One River—an asset management fund whose crypto funds are backed by Brevan Howard.
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