Brevan Howard’s digital and crypto assets division has taken over the “Liquid Opportunities” fund from Dragonfly Capital. It is an international asset management firm. Brevan Howard’s assets division will now oversee the fund, which was set up in June month of 2021 and previously managed by Ashwin Ramachandran, Kevin Hu, and Lawrence Diao. Brevan Howard manages more than $30 billion in assets and is known for its current trading technique, media reports said.
The move comes when the crypto industry gains more mainstream recognition and adoption. With Bitcoin and other cryptocurrencies hitting record highs, institutional investors are increasingly paying attention to the asset class. This trend is reflected in the growing number of traditional finance firms launching crypto-related products and services.
The takeover of the Liquid Opportunities fund is a significant development in this context, as it represents a further step towards integrating crypto assets into traditional finance. Moreover, by taking over the fund, Brevan Howard is signaling its confidence in the long-term prospects of the crypto industry and its willingness to embrace new investment opportunities.
The move is also significant because it brings together two firms with different backgrounds and approaches to investing. Brevan Howard is a well-established hedge fund with a long track record of success. At the same time, Dragonfly Capital is a newer player in the crypto space that has built a reputation for being at the forefront of innovation in the industry.
The fact that Brevan Howard has chosen to take over Dragonfly’s fund suggests that it sees value in the expertise and experience of the team that managed it. This is also reflected in Kevin Hu’s move from Dragonfly to Brevan Howard, reported earlier this year. In addition, Hu’s role as Main Investment Officer at Nova Digital indicates that the company is committed to building a solid team with deep knowledge of the crypto industry.
The takeover of the Liquid Opportunities fund by Brevan Howard is likely to have significant implications for the wider crypto industry. It is a sign that traditional finance firms are increasingly interested in exploring the space’s investment opportunities and are willing to work with innovative and forward-thinking firms like Dragonfly Capital.
