Key Points
- Brevan Howard Digital has launched a unit to boost companies’ returns on their crypto reserves.
- The new unit, BH Digital Solutions, will initially focus on blockchain and crypto mining companies.
Brevan Howard Asset Management’s crypto-focused arm, Brevan Howard Digital, has initiated a new unit. This unit is designed to amplify the returns for companies that hold cryptocurrency as a reserve asset.
BH Digital Solutions
The new unit, BH Digital Solutions, is spearheaded by Chris Rayner-Cook, who was previously the head of trading and financing at Coinbase. The primary focus of the unit will be on blockchain and cryptocurrency mining companies. The goal is to help these companies generate a higher return on their holdings.
The establishment of this unit follows a reported 20% increase in assets under management in the first half of 2024 by BH Digital. This crypto hedge fund manages $2.3 billion. Since its inception in late 2021, BH Digital’s assets have grown to $2.3 billion, marking a gain of over 50% since it started trading in March 2022.
Expanding Crypto Opportunities
Gautam Sharma, the CEO of Brevan Howard Digital, stated that the new unit is a “natural extension” of the company’s offerings. He pointed out the increasing “opportunities” in the cryptocurrency space for institutional investors.
With the current financial landscape being unpredictable, more companies are integrating cryptocurrency into their balance sheets. Data from BitcoinTreasuries.com indicates that over 90 global companies hold Bitcoin (BTC). Leading the group is MicroStrategy with more than 226,330 BTC, which is valued at over $15.7 billion at current prices.
