Brevan Howard’s crypto hedge fund has launched a brand new unit that can assist corporations generate extra returns on their crypto treasuries.
Brevan Howard Asset Administration’s crypto-focused department, Brevan Howard Digital, has unveiled a brand new unit geared toward enhancing returns for corporations holding crypto as a reserve asset.
In line with a Monetary Information report, the brand new unit referred to as BH Digital Options might be led by Chris Rayner-Prepare dinner, former head of buying and selling and financing at Coinbase. The unit’s preliminary focus might be on blockchain and crypto mining corporations, serving to them generate elevated returns from their holdings.
The launch comes as BH Digital, Brevan Howard’s crypto hedge fund which manages $2.3 billion, reported a 20% enhance in belongings below administration within the first half of 2024. As crypto.information reported, since its launch in late 2021, BH Digital has seen its belongings swell to $2.3 billion, with a greater than 50% acquire since its buying and selling debut in March 2022.
Gautam Sharma, CEO of Brevan Howard Digital, emphasised that the brand new unit represents a “pure extension” of the agency’s choices, highlighting the rising “alternatives” within the crypto house for institutional traders.
Because the monetary panorama stays unsure, an growing variety of corporations are incorporating crypto into their stability sheets. Knowledge from BitcoinTreasuries.com reveals that over 90 corporations globally maintain Bitcoin (BTC), with MicroStrategy main the pack with greater than 226,330 BTC, valued at over $15.7 billion at present costs.
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