British billionaire investor and head of hedge fund Brevan Howard, Alan Howard, s launching a cryptocurrency investment platform.
The platform is aiming to offer individuals the possibility to make stable investments, despite the volatility of digital assets, and is developed mainly for institutional investors.
Furthermore, the new platform will make investments in various crypto asset hedge funds and, according to the Financial Times, the hedge fund will consist of several other funds.
In total, the hedge fund expects to manage around $1 billion in total and aims is to steer investors towards a select grouping of funds with higher quality operations.
Recent data from Hedge Fund Research reveals that digital asset-focused investment portfolios are up around 60% over Q1 and Q2 2019.
Elwood Asset Management, the firm currently responsible for managing Howard’s cryptocurrency investments, will also be handling the development, launch, and investment strategy of the new digital currency fund.
The goal is to find companies that meet Elwood’s due diligence criteria, in order to ensure that clients’ assets remain safe.
Bin Ren, CEO of Elwood Asset Management, commented:
“Losing traditional assets in the real world is hard. In the digital world, it’s very easy to lose assets — put in the wrong address for a bitcoin transfer and it’s gone forever.”
Alan Howard has been investing in digital assets since 2017. The billionaire investor also invested in Block.one, the software publishing firm behind the development of EOS.
