Mark Weaden
The latest financial institution making moves in the crypto space is European hedge fund manager Brevan Howard
British hedge fund manager Brevan Howard released a statement today about its intentions to expand its cryptocurrency offering to customers. The aim is to bring in a new executive to head their private and venture investments in the crypto space, which will work under the name BH Digital.
Over the Atlantic, we saw another financial giant in the form of BNY Mellon opening up cryptocurrency management options to clients earlier this year. As adoption moves closer to the mainstream, we’re seeing an increasing number of financial organizations take a growing interest in digital assets.
What is Braven Howard offering?
Braven Howard is recognized globally for its work on macroeconomics and now stands as one of the first major hedge funds to take the first steps into the cryptocurrency sphere. The high volatility of the cryptocurrency market has made it an unattractive option for some years. But, as demand for access to crypto has grown, suddenly the idea of betting on highly volatile assets has become quite attractive.
Cryptocurrency will be added to Braven’s “digital assets” fund, which has been the companies flagship portfolio for some time. The firm has hired Colleen Sullivan as its CMT Digital Chief Executive, who will lead the private and venture investments in crypto.
The decision to bring in Sullivan is a testament to Braven Howard’s intentions in the space, as she is a specialist in crypto-asset trading in relation to blockchain technology. She has headed this sector of CMT for some time and will now chair the investment committee of a new strategy for crypto technology investments.
She brings a great deal of experience and has an excellent track record in completing highly successful crypto venture investments. What’s more, there is a definite demand for access to crypto-based investments at the moment. With Sullivan helping to manage the direction of the fund, the hedge funds’ expansion into digital assets is on the right path.
As well as the fund, launching the new BH Digital division at Brevan, we are likely to see a significant expansion into cryptocurrency and possibly opening up diversification of funds within the sector. We may have more news on the new division before the year is out.
