Billionaire investor ready to launch $1B crypto hedge fund

Alan Howard, is launching a crypto portfolio platform. The billionaire head of Brevan Howard hedge fund, target is to make stable investments in a popular volatile market of some sort.

According to a Financial Times report on August 30, the purpose of the platform is tailored towards institutional clients and will then make strategic investments in other crypto hedge funds as it work to become a kind of head funds.

The scope of the fund is to manage as much as $1 billion in investments. This venture comes At the wake of a tempered bull run lead by bitcoin’s surge in price comes this venture.

Over the first two quarters this year, crypto-focused investment pools are up nearly 60 percent, citing data firm Hedge Fund Research.

The firm managing Howard’s personal digital assets, Elwood Asset Management ,will oversee the launch, construction and direction of the new fund. The aim is to avoid any known mishap along the way by finding firms that satisfy Elwood’s due diligence.
“Losing traditional assets in the real world is hard. In the digital world, it’s very easy to lose assets, for instance, put in the wrong address for a bitcoin transfer and you know what, it’s gone forever,” but it’s hard losing assets in the real world anyway. Bin Ren, CEO, blockchain funds specialist at Elwood stated.

Howard’s venture will distinctively identify enough firms to invest in the venture as well offer their own clients portfolio options that satisfy their risk profiles, diversity requirements and also liquidity needs.

Therefore, for the service, Elwood will charge an undisclosed management fee, in addition to a fee to access the underlying funds. They may also design bespoke portfolios for each investor too. More details will be made available.

Elwood and investment management company Invesco had previously co-launched an exchange-traded fund (ETF) with stakes in companies developing blockchain technology.

According to Ren during an interview with Bloomberg in March, said: “ To buy Bitcoin has been the only way for institutions to get meaningful exposure to digital assets though many have been so reluctant or unable to buy Bitcoin and for good reason on another note.”

Howard has invested in cryptocurrencies since 2017, including an early investment in Block.one, the corporate parent of EOS. Though Howard has not been involved in the day to day operations at Elwood but he has invested in crypto since 2017 with also an early investment in Block.one, the body in-charge of EOS.

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Credits: Daniel Kuhn

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