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2021.04.15

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.

https://cointelegraph.com/news/uk-hedge-fund-reportedly-plans-to-invest-84m-in-crypto

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