Brevan Howard’s crypto fund gains 20%, hitting $2.3b in AUM: report

Brevan Howard Asset Management’s crypto fund has gained 20% in the first half of 2024 as institutional investors turn to crypto amid rising prices.

BH Digital, a cryptocurrency hedge fund with $2.3 billion under management, increased its assets under management by nearly 20% in the first half of 2024, Financial News reported, citing sources familiar with the matter.

The crypto fund run by the famous British billionaire hedge fund manager Alan Howard has consistently outperformed other units under Howard’s control. As sources explained, BH Digital has outperformed Brevan Howard’s flagship Master fund, which is still down 1.5% since the beginning of the year.

Brevan Howard is reportedly currently considering expanding his team, but it remains unclear whether this will involve investing in the crypto unit, which currently employs 60 people.

Since its launch in late 2021, BH Digital has gained more than 50% since it began trading in March 2022. The fund provides institutional investors with access to a wide range of opportunities in the crypto sector, including investments in liquid cryptocurrencies and venture capital.

Brevan Howard is exploring new avenues such as asset tokenization in addition to crypto investments. In early 2024, Alan Howard-backed WebN Group and Laser Digital introduced Libre, a web3 protocol focused on asset tokenization and smart contracts for regulatory-compliant issuance and management of alternative investments.