Large British hedge fund Brevan Howard Asset Management, which manages $ 5.6 billion in assets, plans to invest in cryptocurrencies.
According to sources familiar with the situation and wishing to remain anonymous, the hedge fund plans to invest up to 1.5% of its portfolio in digital assets. That is, the volume of investments in cryptocurrencies can be up to $ 84 million. The fund plans to invest not only in bitcoin, but also in a whole range of various digital assets.
The investment is described as an “initial offering,” and the digital asset portfolio will be managed by cryptocurrency investment firm Distributed Global co-founders Johny Steindorff and Tucker Waterman.
Brevan Howard Asset Management co-founder Alan Howard invested part of his fortune in cryptocurrencies back in 2017. He also acquired 25% of One River Asset Management, a digital asset investor, and launched Elwood Asset Management in 2018.
Recall that, according to the CoinShares company, the volume of investments of institutional investors in cryptocurrencies in the first quarter of 2021 amounted to $ 4.5 billion.
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