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Hedge funds like multi-strategy giants Millennium and Point72 are getting into crypto.
The space, which was once dismissed by top managers, has become more accepted.
There are still major holdouts, including Ken Griffin s Citadel.
The hedge-fund world didn t come running to cryptocurrencies.
While some smaller funds embraced bitcoin and other digital currencies early on, the biggest names in the industry needed to warm up to the idea of investing in a completely new asset class.
But now that some of the world s most respected investors have embraced bitcoin, the floodgates have opened. A new PwC report finds that while only 21% of hedge funds are currently investing in digital assets, a quarter of those who are not have made plans to this year.
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UK Hedge Fund to Allocate $48M to Digital Assets
Last Updated: 16 April 2021
Brevan Howard, a U.K. asset management firm, plans to invest $48 million in digital exposure. The firm has around 12 years of experience in the crypto market.
An asset management firm in the U.K. is aiming at increasing its reach in the crypto market space. According to an inside source, Brevan Howard is planning to invest around $48 million in crypto. This will be 1.5% of the total investments in their hedge fund. By doing this, the firm will become one of the latest money managers to venture into crypto.
Brevan Howard to begin investing in cryptocurrencies – source
Bloomberg
Hedge fund firm Brevan Howard will begin investing in digital assets, including bitcoin, for its clients.
The firm has set up a new fund that will start to invest in a wide range of digital assets, a person familiar with the matter said. Bloomberg reported an allocation of up to 1.5% of Brevan Howard s $5.6 billion main hedge fund, which the person said was accurate.
Brevan Howard co-founder Alan Howard in a private capacity launched digital trading technologies firm Elwood Asset Management four years ago. At the time, Brevan Howard decided cryptocurrency and digital assets-related infrastructure wasn t mature enough for institutional investment.
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