Brevan Howard Crypto Fund Survives FTX-Led Market Downturn Down Just 5% – Bitcoin (BTC/USD) – Benzinga

Brevan Howard Asset Management’s new digital currency fund managed to minimize losses during this year’s crypto market meltdown to single digits, thanks to the fund’s strategic decision to hold cash amid turbulent market conditions. What Happened: The BH Digital Multi – The Strategy Fund is down just about 5% this year, citing sources, according to a report by Bloomberg. The holding was a preventive measure against the volatile cryptocurrency markets. Cryptocurrency hedge funds tracked by Bloomberg have suffered a mind-boggling 43% average drop on Bitcoin’s BTC/USD plunge of around 60% and the recent collapse of crypto exchange FTX. See More: Best Crypto Day Trading Strategies Led by Chief Executive Aron Landy, Brevan Howard has made a significant comeback after several years of lackluster performance. Assets have grown to $30 billion, a fivefold increase from the lows of late 2018, while the company has grown to more than 700 employees. Brevan Howard did not respond to Benzingas’s request for comment at the time of publication. Price Action: BTC was trading at $17,667, down 0.50% in the last 24 hours at the time of writing, according to Benzinga Pro data. Read Next: Bitcoin, Ethereum, Dogecoin Mixed After Fed Rate Hike: Analyst Says Apex Crypto’s Path To $20,500 Is ‘Open’

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