Brevan Howard Asset Administration’s crypto fund has gained 20% in H1 2024 as institutional buyers turned to crypto amid rising costs.
BH Digital, a crypto hedge fund which manages $2.3 billion, has boosted its property beneath administration by roughly 20% within the first half of 2024, the Monetary Information has discovered, citing individuals conversant in the matter.
The crypto fund, managed by Alan Howard, a outstanding British billionaire hedge fund supervisor, has persistently outperformed different models beneath Howard’s management. BH Digital has outpaced Brevan Howard’s flagship Grasp fund, which continues to be down 1.5% year-to-date, the sources revealed.
Brevan Howard is now reportedly contemplating increasing its crew, although it stays unsure whether or not this may contain an funding within the crypto unit, which at present employs 60 individuals.
Since its launch in late 2021, BH Digital has achieved a greater than 50% achieve because it started buying and selling in March 2022. The fund supplies institutional buyers with entry to a broad vary of alternatives, together with investments in liquid cryptocurrencies and enterprise capital throughout the crypto sector.
Along with its crypto investments, Brevan Howard is exploring new avenues corresponding to asset tokenization. Earlier in 2024, WebN Group and Laser Digital, backed by Alan Howard, launched the web3 protocol Libre, which focuses on asset tokenization and good contracts for regulatory-compliant issuance and administration of different investments.
Learn extra: Alan Howard makes extra investments in crypto startups
