British hedge fund Brevan Howard creates cryptocurrency division
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Answer British hedge fund Brevan Howard creates cryptocurrency division
The adoption of cryptocurrencies continues from various parties and institutions, including traditional financial institutions.
According to the latest developments, British hedge fund Brevan Howard Asset Management has created a new unit dedicated to cryptocurrencies, which in turn belongs to the fast-developing asset class.
The London-based investment firm, whose new division is called Brevan Howard Digital, is looking to expand its reach in the cryptocurrency market.
Mr. Colin Sullivan has been appointed CEO and Co-Founder of CMT Digital.
Sullivan will be responsible for the investment strategy of BH Digital.
Speaking of development, He said Aaron Landy, CEO of Brevan Howard:
Colin’s exceptional track record of making investments in highly successful crypto ventures will be of immense benefit to Brevan Howard’s clients and underscores the company’s commitment to rapidly expanding its platform and offering in cryptocurrency and digital assets.
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Earlier this year, Brevan Howard made the decision to enter the crypto space.
The hedge fund giant is looking to put about 1.5% of its capital into digital assets.
The company’s co-founder, Alan Howard, has also been investing in the sector.
Howard recently acquired a 25% stake in One River Asset Management, which backs its crypto funds.
Traditional Funds Looking for Cryptocurrency Exposure:
Many hedge funds seek exposure to the cryptocurrency market.
With the latest decision, Brevan Howard has joined the likes of hedge fund giants such as Paul Tudor Jones and Mark Lacery and betting on digital assets.
Last month, hedge fund Third Point Management also indicated that it will continue to make new investments in cryptocurrencies.
Daniel Loeb, Founder and CEO of Third Point said:
We will continue to pursue more of these investments in our portfolio and see opportunities from our business lines.
Recently, two Virginia public pension funds have also shown interest in exposure to cryptocurrency.
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