Hedge Fund Behind One River Digital to Invest Part of $5.6B Fund in Crypto: Report
Macro fund manager Brevan Howard plans to invest up to 1.5% of its main fund in cryptocurrencies, according to a story in Bloomberg.
Apr 15, 2021 at 6:21 p.m. UTCUpdated Sep 14, 2021 at 12:41 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/VSBWTNNJFVD6BGMA55PMF6GOEU.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Brevan Howard Asset Management, the macro investment firm and part-owner of cryptocurrency hedge fund One River Digital, is itself gearing up for direct investments in crypto, according to Bloomberg.
- The European fund manager will invest up to 1.5% of its main fund (worth $5.6 billion at press time) in undisclosed cryptos, according to unnamed sources cited by Bloomberg.
- The macro fund has made multiple bets in crypto companies over the years but shied away from direct exposure until now.
- Their investment in cryptocurrencies continues a trend of storied investment managers rapidly warming up to bitcoin and its smaller brethren.
- Bloomberg said the digital asset investments will be "overseen" by executives at crypto venture firm Distributed Global, of which Brevan Howard is an investor.
- It is not clear if One River Digital, the institutional crypto firm whose parent company is also partly owned by Brevan Howard, is participating.
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)