In brief
- Rothschild and Brevan Howard are the next two institutions that are betting on crypto.
- Together, the two firms hold over $11 billion in assets under management.
Brevan Howard Asset Management and Rothschild Investment are the next two asset management firms that are betting on digital assets. The combined investments of the firms, which hold over $11 billion in assets under management between them, amounts to about $60 million.
Brevan Howard will initially invest up to 1.5% of the fund in digital assets, reported Bloomberg on Friday. Rothschild Investment has purchased $4.75 million worth of Grayscale Ethereum Trust Shares, according to an SEC filing filed yesterday.
These firms are the latest in a long line of financial institutions that disclosed their stakes in digital assets. “My view is we will see more and more funds entering the space looking for passive exposure,” Charles Storry, head of growth at Phuture, told Decrypt.
Brevan Howard Asset Management
Brevan Howard Asset Management is reportedly preparing to start investing in digital assets. The Jersey-based firm, founded in 2002, will invest 1.5% of its $5.6 billion hedge fund into crypto, reported Bloomberg, citing an unnamed source familiar with the matter.
The co-founders of crypto investment firm Distributed Global, Johnny Steindorff and Tucker Waterman, will oversee this initial investment, according to Bloomberg. Brevan Howard did not reply to Decrypt's request for comment.
Yet, this is not the first time the asset management firm has explored digital assets. The firm’s co-founder, Alan Howard, has previously invested his money into cryptocurrencies. The firm has also acquired a 25% stake in One River Asset Management.
Rothschild Investment
Chicago-based Rothschild Investment, a 211-year-old institutional investment manager, purchased almost $5 million in Grayscale Ethereum Trust Shares, per a recent SEC filing.
This investment adds to an existing portfolio for Rothschild Investment—which currently has over $1.1 billion in assets under management. The firm has also reported owning over 38,000 shares of the Grayscale Bitcoin Trust (GBTC). In January of this year, the firm only held just over 30,000 shares.
However, this is the first time the firm has invested in Ethereum, which is currently priced at $2,374. The cryptocurrency hit an all-time high in price six days ago when it hit $2,197.