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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.
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.
STORY CONTINUES BELOW
- 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.
Read more: Daniel Loeb’s $17B Hedge Fund Is Keeping Crypto With Coinbase – And Maybe Even Staking It
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
