UK hedge fund reportedly plans to invest $84M in crypto
Brevan Howard, a UK-based asset manager, is reportedly planning to invest directly in digital assets.
Brevan Howard Asset Management will allocate 1.5% of the $ 5.6 billion managed by the main hedge fund, or about $ 84 million, to cryptocurrencies, Bloomberg reports. Co-founders of crypto investment firm Distributed Global will lead crypto investment, according to people familiar with Bloomberg.
Brevan Howard will focus on a “wide range” of cryptocurrencies in addition to Bitcoin (BTC).
Brevan Howard is not the first to enter the crypto market with this direct investment. Brevan Howard co-founder Alan Howard holds a 25% stake in One River Digital Asset Management, a US-based hedge fund. The hedge fund invested $ 600 million worth of Bitcoin and Ethereum last year.