Brevan Howard to establish cryptocurrency division - OhNo WTF Crypto

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Brevan Howard to establish cryptocurrency division

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Major British hedge fund Brevan Howard announced on the 13th that it will establish a virtual currency division ‘BH Digital’ and hire a new investment manager for the same.

Brevan Howard is a UK-based hedge fund that mainly deals in macro hedges. The company has over $20 billion in assets under management.

In April of this year, it was reported that 1.5% of the company’s AUM will be invested directly into cryptocurrencies.

The company has now established BH Digital, a division that would specialize in managing virtual currency operations.

Brevan Howard has now hired Colleen Sullivan, CEO and co-founder of CMT Digital, a digital asset subsidiary of CMT Group, to lead its private equity and venture capital investment activities in digital assets. She would also chair the investment committee of a new strategy focused on cryptocurrency technology.

Praising the company’s decision on hiring Sullivan, Aron Landy, CEO of the fund, said:

“Colleen’s exceptional track record in making highly successful crypto venture investments will be of tremendous benefit to Brevan Howard clients and underscores the firm’s commitment to rapidly expanding its platform and offerings in cryptocurrencies and digital assets.”

CMT Digital has invested in various cryptocurrency-related companies such as BlockFi, a major lender, and ErisX, a cryptocurrency exchange.

Alan Howard is also an investor in the cryptocurrency industry and has invested in industry-related companies such as CoinShares, Block.one, and Elwood. In April, he invested over $$84 million in bitcoin, ether, and several other digital assets, amounting to 1.5% of the company’s total capital.

Howard is one of the people who have called bitcoin a better store of value than gold.

The post Brevan Howard to establish cryptocurrency division appeared first on Our Bitcoin News.



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