British hedge fund Brevan Howard Asset Management, which manages $ 5.6 billion in assets, created BH Digital and hired a head of cryptocurrency investments.
The position was taken by Colleen Sullivan, CEO and co-founder of CMT Digital. Sullivan will also become the chairman of the investment committee for a new cryptocurrency investment strategy. At CMT Digital, Sullivan has been involved in cryptocurrency trading and investments in the blockchain industry.
BH Digital will focus on digital asset management. The hedge fund hopes to increase its presence in the cryptocurrency and blockchain market. Brevan Howard CEO Aron Landy said:
“Colleen has an exceptional track record of successful digital asset venture capital investments. This will benefit Brevan Howard’s clients and underscore our commitment to expanding our offerings in the cryptocurrency and digital asset space. ”
This spring, Brevan Howard announced that the hedge fund is considering investing in cryptocurrencies. The fund planned to invest up to 1.5% of its portfolio in digital assets.