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Brevan Howard’s Crypto Fund Gains 20%, Reaches $2.3B in AUM: Report
Brevan Howard Asset Management’s crypto fund gained 20% in the first half of 2024, as institutional investors flocked to cryptocurrencies amid rising prices.
BH Digital, a crypto hedge fund that manages $2.3 billion, increased its assets under management by about 20% in the first half of 2024, according to the Financial News He learnedciting people familiar with the matter.
The crypto fund, run by Alan Howard, a major British billionaire hedge fund manager, has consistently outperformed other units under Howard’s control. BH Digital has outperformed Brevan Howard’s flagship Master fund, which is still down 1.5% year to date, the sources said.
Brevan Howard is now said to be considering expanding his team, although it is not yet clear whether this will involve an investment in the cryptocurrency unit, which currently employs 60 people.
Since its launch at the end of 2021, BH Digital has reached a gain of over 50% since it began trading in March 2022. The fund offers institutional investors access to a broad range of opportunities, including liquid cryptocurrency investments and venture capital in the cryptocurrency sector.
In addition to his cryptocurrency investments, Brevan Howard is exploring new avenues such as asset tokenization. In early 2024, WebN Group and Laser Digital, backed by Alan Howard, introduced the web3 Libre protocol, which focuses on asset tokenization and smart contracts for the regulatory-compliant issuance and management of alternative investments.