According to a new relationship By Reuters, Brevan Howard – a UK-based hedge fund – plans to “significantly expand” its cryptocurrency and digital asset services.
Chief Executive Aron Landy, who has been at the helm of Brevan since its co-founder and longtime cryptocurrency advocate Alan Howard stepped down in 2019, said the company “is committed to rapidly expanding the platform and its offerings of cryptocurrencies and digital assets “.
Brevan’s strategy for the future with cryptocurrencies is focused on two fronts. To manage its crypto assets, the company is launching a new business division, “BH Digital”, hiring CMT Digital CEO Colleen Sullivan to lead private and venture investments in cryptocurrencies.
Since late 2013, Sullivan has led CMT Digital, a division of the CMT group focused on cryptocurrency trading, blockchain investments and legal / political engagement in the industry. At Brevan, he will chair an investment committee dedicated to creating a new strategy focused on cryptocurrency technology. Landy himself endorsed Sullivan’s “outstanding track record of making highly successful cryptocurrency investments,” adding that his appointment “will be of tremendous benefit to Brevan Howard’s clients.”
Brevan’s crypto strategy led by Landy suggests that Howard’s leave did not affect the company’s interest in crypto in the slightest. Under his leadership, the Brevan Howard Master Fund announced this April that it would allocate 1.5% to cryptocurrencies, for approximately $ 84 million.
Howard himself has numerous investments in the cryptocurrency sector to his credit, including the developer of EOS Block.one and Bakkt, the digital asset platform owned by ICE. This summer, he led a $ 25 million capital raise for Copper.co, a London-based crypto services company and an investment in the Asian crypto platform Kikitrade. It also has a 25% stake with One River Digital Asset Management, a US-based hedge fund that bought Bitcoin (BTC) ed Ether (ETH) worth $ 600 million in 2020.
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