Brevan Howard’s crypto hedge fund has launched a brand new unit that may assist firms generate extra returns on their crypto treasuries.
Brevan Howard Asset Administration’s crypto-focused department, Brevan Howard Digital, has unveiled a brand new unit aimed toward enhancing returns for firms holding crypto as a reserve asset.
In response to a Monetary Information report, the brand new unit known 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 firms, 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 beneath 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% achieve 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 area for institutional traders.
Because the monetary panorama stays unsure, an rising variety of firms are incorporating crypto into their steadiness sheets. Knowledge from BitcoinTreasuries.com reveals that over 90 firms globally maintain Bitcoin (BTC), with MicroStrategy main the pack with greater than 226,330 BTC, valued at over $15.7 billion at present costs.