Brevan Howard’s crypto hedge fund has launched a new unit that will help companies generate more returns on their cryptocurrency treasuries.
Brevan Howard Digital, the cryptocurrency arm of Brevan Howard Asset Management, has unveiled a new unit aimed at boosting returns for companies that hold cryptocurrencies as a reserve asset.
According to financial news a reportThe new unit, called BH Digital Solutions, will be led by Chris Rainer Cook, former head of trading and finance at Coinbase. The unit’s initial focus will be on blockchain and cryptocurrency mining companies, helping them generate incremental returns from their holdings.
The launch comes as BH Digital, Brevan Howard’s $2.3 billion crypto hedge fund, announced a 20% increase in assets under management in the first half of 2024. As crypto.news reported, since its launch in late 2021, BH Digital has seen its assets balloon to $2.3 billion, up more than 50% since its trading debut in March 2022.
Gautam Sharma, CEO of Brevan Howard Digital, said the new unit is a “natural extension” of the company’s offerings, highlighting the growing “opportunities” in crypto for institutional investors.
With the financial landscape still uncertain, a growing number of companies are incorporating cryptocurrencies into their balance sheets. Data from BitcoinTreasuries.com reveals that over 90 companies globally hold Bitcoin (BTC), with MicroStrategy leading the pack with over 226,330 BTC, worth over $15.7 billion at current prices.