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Hedge fund Brevan Howard will “significantly increase” its investment by establishing a new sector that focuses more on these companies, indicating how financial companies are pushing for the company.
The European hedge fund, one of the largest in the world, said on Monday it had launched a new unit called BH Digital, which will oversee crypto currencies and digital assets. It appointed Colleen Sullivan, senior vice president and co-founder of cryptocurrency and blockchain technology firm CMT Digital, as its regional leader.
Brevan Howard’s rush in crypto comes as big financial companies like Goldman Sachs and New York Mellon Bank and several hedges as Marshall Wace and New Restoration tried to get a share. The growth of blue brands reflects the growing interest in digital products among retailers, forcing banks to be forced to invest in digital assets.
“Brevan Howard’s belief in the vast diversity of digital space and the importance of this for long-term marketers is why we are delighted to welcome Colleen to the company,” said Aron Landy, chief fund manager.
Traditional companies on Wall Street have been scrambling to create ways to account for market growth due to market growth over the past 18 months. Research in June pointed out that the hedge fund is looking to expand their access to cryptocurrencies, but investors in traditional markets are facing stiff competition from digital media experts.
Brevan announced earlier this year that he would be selling money through his Master’s Big Pouch and made a special digital car. The ability to set up a dedicated section on electronic signals that the fund is pushing for technical funding and its expertise is progressing well.
Sullivan from Chicago will be tasked with transforming BH Digital into a key player in supporting financial professionals in digital assets and crypto businesses, as well as leading “private and crypto-currency” operations. He will also be a new driving committee member who will focus on “complex and confusing technology”.
Sullivan’s remuneration “confirms the company’s commitment to the rapid expansion of its platform and offerings in cryptocurrencies and digital assets,” Landy said.