Brevan Howard raises more than $1 billion for crypto fund: Blockworks

Brevan Howard Asset Management’s digital assets-focused vehicle has raised more than $1 billion from institutional investors, Blockworks reported.

BH Digital, the crypto and digital asset arm of Brevan Howard, has lost less than 5% through the end of June with its Brevan Howard Digital Asset Multi-Strategy Fund, a source told Blockworks. The performance comes despite the crypto winter, collapse of the Luna stablecoin and the general decline in cryptocurrency prices.

The fund is the largest crypto hedge fund launch yet and has a capacity of up to $1.5 billion, according to Blockworks. Brevan Howard, whose assets under management exceed $20 billion, declined to comment for this story.

Acting as Brevan Howard’s dedicated crypto arm, BH Digital helps investors such as sovereign wealth funds, pension funds, foundations and endowments gain exposure to crypto.