Brevan Howard Asset Management and Rothschild Investment stand out as the last major firms to invest in crypto assets.
Summary of the News
- Rothschild and Brevan Howard announced that they have invested in cryptocurrency.
- The two firms hold over $ 11 billion in assets under their management.
Brevan Howard Asset Management and Rothschild Invest were the last two asset management firms to invest in cryptocurrency. The combined investments of companies, which are known to manage an asset of over $ 11 billion in total, reach $ 60 million in crypto money.
Brevan Howard will initially invest up to 1.5% of his treasury in crypto, Bloomberg reported on Friday. It was also revealed that Rothschild Investment also bought Grayscale Ethereum Trust Shares worth $ 4.75 million, according to the SEC filing yesterday.
Brevan Howard Asset Management
It has long been known that Brevan Howard Asset Management is preparing to invest in crypto assets. The Jersey-based firm, founded in 2002, reported that it will invest 1.5% of its $ 5.6 billion hedge fund into crypto.
According to Bloomberg, Johnny Steindorff and Tucker Waterman, co-founders of crypto investment firm Distributed Global, stand out as the names to oversee this initial investment. Brevan Howard has not yet shared detailed information about the process.
However, this is not the first time the asset management firm has discovered crypto assets. The company’s co-founder, Alan Howard, had previously invested his money in cryptocurrency. The firm also came to the fore by purchasing 25% of One River Asset Management.
Chicago-based Rothschild Investment, a 211-year-old corporate investment manager, made an approximately $ 5 million purchase in Grayscale Ethereum Trust Shares, according to a recent SEC filing.
This investment will add to the portfolio of Rothschild Investment, which currently owns over $ 1.1 billion in assets under its management. The firm also reported that it owns more than 38,000 shares in the Grayscale Bitcoin Trust (GBTC). In January, this figure was around 30,000.
It also stands out as Rothschild Investments’ first Ethereum investment.