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 that will help companies generate more returns on their crypto treasuries.

Brevan Howard Asset Management’s crypto-focused branch, Brevan Howard Digital, has unveiled a new unit aimed at enhancing returns for companies holding crypto as a reserve asset.

According to a Financial News report, the new unit called BH Digital Solutions will be led by Chris Rayner-Cook, former head of trading and financing at Coinbase. The unit’s initial focus will be on blockchain and crypto mining companies, helping them generate increased returns from their holdings.

The launch comes as BH Digital, Brevan Howard’s crypto hedge fund which manages $2.3 billion, reported 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 swell to $2.3 billion, with a more than 50% gain since its trading debut in March 2022.

Gautam Sharma, CEO of Brevan Howard Digital, emphasized that the new unit represents a “natural extension” of the firm’s offerings, highlighting the growing “opportunities” in the crypto space for institutional investors.

As the financial landscape remains uncertain, an increasing number of companies are incorporating crypto into their balance sheets. Data from BitcoinTreasuries.com reveals that over 90 companies globally hold Bitcoin (BTC), with MicroStrategy leading the pack with more than 226,330 BTC, valued at over $15.7 billion at current prices.