Brevin Howard “significantly expands” the promotion of crypto assets


Cryptocurrency update

Hedge fund Brevan Howard will “significantly expand” its foray into digital assets by launching a new department focused on the industry, which is the latest sign of how traditional financial companies are racing to enter the industry.

European hedge funds, one of the largest hedge funds in the world, said on Monday that they have established a new department called BH Digital, which will manage cryptocurrencies and digital assets. It has appointed Colleen Sullivan, CEO and co-founder of CMT Digital, a professional cryptocurrency and blockchain technology company, as the head of the department.

Brevan Howard (Brevan Howard) went deep into cryptocurrency at a time when large financial companies, such as Goldman Sachs with Bank of New York Mellon And some hedge funds, such as Marshall Weiss with Renaissance Capital Have sought to enter the field. The influx of blue chip stocks highlights the growing interest of professional investors in digital assets, which puts banks under pressure to provide digital asset services.

Aron Landy, CEO of the fund, said: “Brevan Howard believes in the huge diversity of opportunities in the digital asset space and its importance to long-term macro investors. This is why we are very happy to welcome Colleen to the company.”

With the scale of the cryptocurrency market booming in the past 18 months, traditional Wall Street companies have been eager to develop a strategy around cryptocurrencies. June survey It shows that hedge funds intend to substantially increase their exposure to cryptocurrencies, but investors in traditional markets are facing fierce competition from digital asset experts.

Brevan announced earlier this year that it will invest in cryptocurrencies through its main main fund and create a professional tool for digital assets. The establishment of a dedicated department for digital assets shows that the fund has accelerated its pace of entering cryptocurrency and its underlying technology.

Chicago-based Sullivan will be responsible for transforming BH Digital into a key participant in providing services to professional investors in the field of digital assets and crypto trading, and will lead the fund’s “private and venture capital activities in the crypto field.” She will also chair a new car investment committee focused on “attractive and disruptive technologies.”

Randy said that Sullivan’s hiring “highlights the company’s commitment to rapidly expanding its platform and cryptocurrency and digital asset products”.


Source link