The main hedge fund Brevan Howard Master Fund will reportedly invest 1.5% of its $5.6 billion pool to start buying Bitcoin
Brevan Howard Asset Management, the British hedge fund, is set to begin investing in cryptocurrency.
Brevan Howard biggest hedge fund will put 1.5% of its assets into crypto
People familiar with the matter said that the company would invest up to 1.5% of a $5.6 billion fund in digital assets. And Bitcoin is not the only cryptocurrency on its radar. They added that the investment, which is described as an initial allocation, will be steered by Johnny Steindorff and Tucker Waterman, co-founders of Distributed Global, a crypto investment firm.
Brevan Howard did not respond. Founded in 2002, Brevan Howard was once one of the world’s largest macro hedge funds — with some $40 billion in assets under management in 2013. The company managed roughly $10 billion as of September 2020.
Alan Howard, the British billionaire who co-founded the company, has invested heavily in the cryptocurrency sector over the past few years.
In March, The Block revealed that Howard had taken a significant stake in CoinShares, Europe’s largest crypto asset manager. At the time, the value of his investment was worth roughly $61.5 million.
Howard also owns Elwood Asset Management, an investment firm focused on crypto and blockchain that was set up in 2018, in addition to having invested in several venture capital deals for startups in the crypto space.
He has also been linked with the hedge fund One River Asset Management, which Bloomberg reported had holdings of bitcoin and ether worth around $1 billion as of early 2021.
Read more:
- AXA Switzerland: Customers Are Now Able To Pay Their Premiums In Bitcoin
- Ukrainian Rada Deputy Has Lost Access To 400 Bitcoin In His Wallet, Total Equivalent More Than $ 25 Million