Brevan Howard expands further into crypto as institutional interest jumps
Hedge fund Brevan Howard said on Monday that it was expanding its crypto business, the latest sign that institutional interest in the asset class is gaining momentum.
Brevan, more famous for its bets on macroeconomic trends, has been among the most high-profile of major hedge funds moving into the world of crypto trading, known for its volatile markets and scope for outsize gains.
The asset manager said it would launch a new unit, BH Digital, to manage cryptocurrency and digital assets. It said it would also hire Colleen Sullivan, currently CEO of the digital arm of trading firm CMT, to lead private and venture investments in crypto.
Brevan's expansion comes on the back of other high-profile money managers venturing into this space in recent months. Hedge fund manager Paul Tudor Jones has invested in bitcoin while Man Group (EMG.L) trades bitcoin futures. read more