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

Brevan Howard Asset Management’s crypto fund has gained 20% in H1 2024 as institutional investors turned to crypto amid rising prices.

BH Digital, a crypto hedge fund which manages $2.3 billion, has boosted its assets under management by roughly 20% in the first half of 2024, the Financial News has learned, citing people familiar with the matter.

The crypto fund, managed by Alan Howard, a prominent British billionaire hedge fund manager, has consistently outperformed other units under Howard’s control. BH Digital has outpaced Brevan Howard’s flagship Master fund, which is still down 1.5% year-to-date, the sources revealed.

Brevan Howard is now reportedly considering expanding its team, though it remains uncertain whether this will involve an investment in the crypto unit, which currently employs 60 people.

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

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