Brevan Howard’s new fund to target firms with crypto on balance sheets: report

Brevan Howard’s crypto hedge fund has launched a new unit to help companies generate greater returns from their cryptocurrency holdings.

Brevan Howard Digital, the crypto-focused arm of Brevan Howard Asset Management, has announced a new unit that aims to boost returns for companies that hold crypto as a reserve asset.

The new unit, called BH Digital Solutions, will be led by Chris Rayner-Cook, former head of trading and finance at Coinbase, according to a report from Financial News. The unit’s initial focus will be on helping blockchain and crypto mining companies get more returns on their assets.

The launch comes after Brevan Howard’s crypto hedge fund BH Digital, which manages $2.3 billion, reported a 20% increase in assets under management in the first half of 2024. Since launching in late 2021, BH Digital has seen its assets rise to $2.3 billion, a gain of more than 50% since its trading debut in March 2022, crypto.news reported.

Brevan Howard Digital CEO Gautam Sharma emphasized that the new unit is a “natural extension” of the services the company offers, noting the growing “opportunities” in the crypto space for institutional investors.

As the financial landscape remains uncertain, a growing number of companies are including cryptocurrencies on their balance sheets. Data from BitcoinTreasuries.com reveals that over 90 companies worldwide hold Bitcoin (BTC), with MicroStrategy leading the way with over 226,330 BTC, worth over $15.7 billion at current prices.