Hedge Fund Behind One River Digital to Invest Part of $5.6B Fund in Crypto: Report

Brevan Howard Asset Management, the macro investment firm and part-owner of cryptocurrency hedge fund One River Digital, is itself gearing up for direct investments in crypto, according to Bloomberg.

• The European fund manager will invest up to 1.5% of its main fund (worth $5.6 billion at press time) in undisclosed cryptos, according to unnamed sources cited by Bloomberg.
• The macro fund has made multiple bets in crypto companies over the years but shied away from direct exposure until now.
• Their investment in cryptocurrencies continues a trend of storied investment managers rapidly warming up to bitcoin and its smaller brethren.
• Bloomberg said the digital asset investments will be "overseen" by executives at crypto venture firm Distributed Global, of which Brevan Howard is an investor.
• It is not clear if One River Digital, the institutional crypto firm whose parent company is also partly owned by Brevan Howard, is participating.