Home Cryptocurrency News Hedge fund Brevan Howard will reportedly launch a unit focused on cryptocurrencies as it pushes further into the digital assets space | Currency News | Financial and Business News

Hedge fund Brevan Howard will reportedly launch a unit focused on cryptocurrencies as it pushes further into the digital assets space | Currency News | Financial and Business News

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Bitcoin is pictured in London, England.
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  • Brevan Howard is beginning a unit devoted to cryptocurrencies and digital property.
  • The BH Digital unit will deal with personal and enterprise funding actions within the sector.
  • Brevan Howard started investing in cryptocurrencies this yr because the market has expanded right into a valuation of $2 trillion.
  • See more stories on Insider’s business page.

Brevan Howard, one of many world’s largest hedge funds, is extending its attain into the cryptocurrency sector by beginning a brand new devoted unit, in line with reviews Monday, highlighting strikes by conventional monetary administration firms to realize publicity to the rapidly rising market.

The corporate has created BH Digital, a unit that can handle cryptos and digital property, in line with separate reviews from Reuters and Financial Times. Monday’s report. Colleen Sullivan will probably be answerable for the division, overseeing the fund’s personal and enterprise funding actions within the sector. Sullivan is the chief government and co-founder of CMT Digital, a specialist cryptocurrency and blockchain know-how agency.

Brevan Howard earlier this yr got down to start shopping for cryptocurrencies after managers determined the market had matured sufficient to start investing for its purchasers, in line with a person familiar with the matter told Insider in April. The agency stated it might put money into cryptocurrencies via its fundamental Grasp fund and it created a specialist car for digital property, in line with the FT.

Brevan Howard is amongst huge monetary corporations reaching for crypto-based enterprise, with the market this yr surpassing $2 trillion in valuation, led by bitcoin and the rise of different tokens together with ether, cardano ada and tether. Goldman Sachs, Commonplace Chartered and Financial institution of New York Mellon are among the many world’s greatest banks investing in cryptocurrency and blockchain technology and projects.


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