Brevan Howard finally launched its crypto division. The hedge fund also hired Collen Sullivan, the former CEO of CMT digital. Colleen Sullivan will manage the company’s private and venture capital investments in crypto.
Reuters have claimed that the brand is looking forward to massively expand its crypto-related investment and digital assets portfolio. The UK-based hedge fund is the latest institution looking to join the crypto marketplace.
Aron Landy the company’s chief executive who joined the company back in 2019, said that firm has a responsibility “to rapidly expand its platform and investments in cryptocurrencies and digital assets.”The company’s policy towards investing in crypto is two-dimensional. First, the company has decided to launch a new business line “BH Digital.” It will help the company managing its crypto assets. Moreover, Colleen Sullivan will help to manage the company’s private and institutional investments as well.
So, Brevan Howard’s current crypto-related policy includes launching its crypto tokens and managing the private and institutional investors as well. Sullivan has previously led the CMT Group division to launch and manage crypto-oriented blockchain investments. Aron Landy, on the other hand, is a huge admirer of Collen Sullivan’s work related to the crypto industry. Under Aron Landy’s supervision, the company’s policy regarding crypto is to allocate 1.8% for crypto-related operations. This amount is roughly valued at around $84 million.
The company also has multiple crypto investments under its belt. The company has invested in EOS developer Block. one and the ICE-owned digital assets platform Bakkt. Moreover, earlier this summer company invested $25 million in Copper. co, a London-based crypto services provider and also invested in Kikitrade. Brevan Howard owns around 25% shares in One River Digital Asset Management as well. One River Digital Asset Management is a USA-based hedge fund that invested $600 million in buying Bitcoin and Ether.
It seems that the Brevan Howard Hedge fund is looking forward to bringing in a team of institutional investors on board to set the future direction of the company. The past couple of months have seen an increased level of interest and involvement of institutions and institutional investors in the crypto marketplace. One of the biggest competitive advantages for the crypto marketplace having institutional investors is that it strengthens the legitimacy claims of the crypto marketplace.
Colleen Sullivan will head the crypto committee at Brevan. She will decide the legal and strategic direction of the company. Sullivan has extensive knowledge about the legal complications regarding the crypto marketplace. The launch of the new business division by the Brevan Howard hedge fund is a positive sign for the overall crypto industry. Brevan Howard will soon expand and bring in further diversity within the crypto landscape.