The head of the Brevan Howard hedge fund, billionaire Alan Howard, is launching a crypto portfolio platform that will focus on stable investments in an extremely volatile cryptocurrency market.
According to the Financial Times report of August 30, the platform will be focused on institutional clients and will make strategic investments in other crypto hedge funds.
It is expected that the fund will manage investments of up to $1 billion. A firm that operates Howard’s personal digital assets, Elwood Asset Management, will handle the launch and management of the new fund.
“Losing traditional assets in the real world is hard. In the digital world, it’s very easy to lose assets — put in the wrong address for a bitcoin transfer and it’s gone forever” – Bin Ren, CEO, blockchain funds specialist at Elwood, said
The new fund should find enough investment firms to offer its clients portfolio options that match their risk profiles, liquidity needs, and other requirements.
Elwood can develop individual portfolios for each investor. Elwood will charge an undisclosed fee for management in addition to a fee for access to fixed assets.