Hedge Fund Brevan Howard is expanding crypto business-expert for the management of the new Digital Asset Unit-Finance
Hedge Fund Brevan Howard is expanding crypto business-expert for the management of the new Digital Asset Unit-Finance
Brevan Howard, a European hedge fund management company, has announced that it would expand its crypto business. BH is expected that BH digitally, the recently founded unity of the hedge fund, "manages its cryptocurrency and digital assets".
growing interest in crypto from hedge fund
In addition to the foundation of BH Digital, Brevan Howard has according to a Reuters test report also has announced that Colleen Sullivan, the current CEO of the digital branch of the trading company CMT, can hire to lead private and risky investments in crypto.
The announcement by Brevan Howard, which is known for her bets on macroeconomic trends ", is the latest proof that" big hedge fund "[are] introduction to the world of crypto trade." In order to support the claims that institutional investors switch to crypto, the same report indicates the recent steps of other top-class money administrators such as Paul Tudor and MAN Group, the Bitcoin futures.
In addition, the report also refers to an annual report that was published by Price Waterhouse Coopers, the Alternative Investment Management Association and Elwood Asset Management.
This annual report shows that the value of the entire managed assets (AUM) of crypto hedge funds worldwide from $ 2 billion in the previous year almost doubled to $ 3.8 billion in 2020.
cryptocurrencies become mainstream
In the meantime, Stuart Cole, the chief macroeconomics at Equiti Capital, is quoted in the report in the report, which explains how the perception of cryptocurrencies has changed over the years. Cole notes:What was initially considered a fashion appearance now seems to develop into a more permanent structure of the financial landscape, and this has started to persuade the initial marginal financial instruments to more mainstream and the institutional interest we are now seeing.
However, the report still admits that not all large companies accept cryptocurrencies. It is clear that hedge funds and stock exchanges are trying to "achieve trade revenue", but global banks have increased.
This approach of the banks has been retained despite the pressure of their wealth management customers to offer the trade in cryptocurrencies.
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