London-based hedge fund manager Brevan Howard is continuing its foray into the crypto sector with the launch of a new unit that will manage its investments in cryptocurrencies as well as in other digital assets. The new unit known as BH Digital will be headed by Colleen Sullivan, the CEO, and co-founder of cryptocurrency trading firm CMT Digital.

Sullivan’s role is to lead the Hedge Fund Manager’s “private and venture investment activities in crypto” by turning the BH Digital unit into a major layer for Brevan Howard to provide its investors with digital assets and crypto exposure.

Commenting on the development, Aron Landy, CEO of Brevan Howard noted that the company believes in the “diversity of opportunities within the digital asset space and the significance of [the industry] to long-term macro investors.”

Notably, this is not the first time Brevan Howard has taken crypto-related steps. Earlier this year, the hedge fund manager invested 1.5% ($84 million) of its main hedge fund into cryptocurrencies. The fund manager has an estimated $10 billion in assets under management.

Brevan Howard is however not the only financial institution that recognizes the “huge diversity of opportunities” present in the crypto sector. Brevan Howard’s push deeper into the crypto space comes at a time when a number of hedge funds such as Marshall Wace have sought to tap into the crypto space.

Coinfomania reported that Marshall Wace recently announced plans for a crypto fund targeting investments in companies developing blockchains, stablecoins, and crypto payment systems.

The involvement of these institutional investors has no doubt contributed to the tremendous growth that the crypto market has seen in the past year. Other popular hedge fund managers that have announced crypto exposure in recent times include Paul Tudor Jones and Stanley Druckenmiller.

Treasure Samuel

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