Blockworks reported that BH Digital raised up to $1.5 billion from institutional investors. Despite falling cryptocurrency prices, losses have been below 5%.
Blockworks reported that Brevan Howard Asset Management’s digital asset-focused vehicle has raised over $1 billion from institutional investors.
According to Blockworks, BH Digital, Brevan Howard’s crypto and digital asset arm, has seen a less than 5% drop in June with its Brevan Howard Digital Strategy Fund. This performance is despite crypto winter, the collapse of Luna stablecoin, and general decline in cryptocurrency price.
According to Blockworks, the fund is the biggest crypto hedge fund launch to date and can hold up to $1.5 million. Brevan Howard, who has more than $20 billion in assets, declined to comment on this story.
BH Digital is Brevan Howard’s dedicated crypto arm. It helps endowments, sovereign wealth funds and pension funds as well as foundations and foundations gain exposure to crypto.