Brevan Howard Asset Management is about to put up to 1.5% of its $5.6 billion main hedge fund in cryptocurrencies, Bloomberg reports, citing a person familiar with the matter. It is expected that the initial investment will be overseen by Johnny Steindorff and Tucker Waterman, co-founders of cryptocurrency investment firm Distributed Global.
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The hedge fund will not only invest in bitcoin (EXANTE: Bitcoin), but also in other digital assets, the Bloomberg source added. It remains unknown when exactly the hedge fund plans to start investing in cryptocurrencies.
iHodl previously reported that Brevan Howard indirectly invested in cryptocurrencies through One River Asset Management. Eric Peters, One River Asset Management CEO, said that he founded a new company focused on cryptocurrencies. In 2021, One River Digital Asset Management plans to increase its holdings in BTC (EXANTE: Bitcoin) and ETH to approximately $1 billion.
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