Former Securities and Exchange Commission Chairman (SEC), Jay Clayton, will advise One River Founder and CEO, Eric Peters, on cryptocurrency initiatives, Bloomberg has learned. One River Asset Management, whose crypto-focused funds are backed by hedge fund Alan Howard, also hired Kevin Hassett and Jonathan Orszag as advisors.
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In an interview with Bloomberg, Clayton admitted he would not have predicted such fast digitization of financial ecosystem.
"Three years ago, I did not believe we would be where we are today — the number of respected investors who have embraced digital assets. I would not have predicted this level of take-up," he said.
Clayton's comments on "respected investors" comes after Tesla, SkyBridge, and other big companies and funds have invested in the bitcoin (EXANTE: Bitcoin) cryptocurrency. In December last year, Brevan Howard, one of the largest macro hedge funds in the world, indirectly invested in cryptocurrencies through One River Asset Management.
One River Digital Asset Management plans to increase its holdings in BTC and ETH to approximately $1 billion in 2021.
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