Brevan Howard’s Crypto Hedge Fund Rises 20% in H1 2024 Amid Institutional Surge

Brevan Howard’s crypto hedge fund has delivered a notable 20% return in the first half of 2024, benefiting from growing institutional interest in digital assets, according to a report from MarketWatch. Sources familiar with the matter confirmed that Brevan Howard Digital, led by CEO Gautam Sharma and a team of 60 professionals, now manages assets totalling $2.3 billion.

This impressive performance follows a remarkable 44% return in 2023, solidifying Brevan Howard Digital’s position in the cryptocurrency investment space. The recent surge in the crypto market, which has gained approximately $700 billion since January, has significantly contributed to the fund’s success. A key driver behind this rally has been the approval of the first spot Bitcoin ETFs by the US Securities and Exchange Commission, allowing major asset managers such as BlackRock and Fidelity to launch their own ETFs, further boosting investor confidence.

London-based hedge funds have also been major beneficiaries of this digital asset boom. Fasanara Digital, part of the $4 billion asset manager Fasanara Capital, reported a 15% increase in value by the end of May. Meanwhile, Nickel Digital Asset Management, a crypto hedge fund founded by former Goldman Sachs executive Anatoly Crachilov, recorded a 14% gain by the end of April. This trend highlights the growing prominence of crypto hedge funds in the digital asset space, as they capitalize on the strong market momentum.

The strong performance of these funds is indicative of the increasing mainstream acceptance of cryptocurrency investments. With the approval of Bitcoin ETFs and rising institutional interest, the crypto market is likely to continue attracting significant capital inflows, benefiting hedge funds focused on digital assets. As these funds thrive, more institutional investors are expected to explore opportunities in the sector, further fueling its expansion.