A discreet hedge fund that bets on volatility has purchased more than $600 million worth of Bitcoin and joined forces with Brevan Howard Asset Management co-founder Alan Howard, Bloomberg reports.<\/p>\n
Eric Peters, founder and CEO of One River Asset Management, said he has formed a new company in response to growing institutional interest in cryptocurrencies.<\/p>\n
He said One River Digital Asset Management completed the purchase of digital assets in November, before Bitcoin reached $16,000. The firm has commitments that will allow assets in Bitcoin and Ethereum (ETH) to rise to about $1 billion by early 2021, Peters added.<\/p>\n
\n“There will be a generational shift in this new asset class. Flows have only just begun,” he says.<\/p>\n<\/blockquote>\n
One River Digital has been backed by British billionaire Alan Howard. He invested in the firm\u2019s funds and also took a stake in the business. His firm, Elwood Asset Management, provides trading and analytical services and technical support.<\/p>\n
Northern Trust acts as administrator for One River Digital\u2019s funds. Coinbase is the execution partner and custodian.<\/p>\n
According to Bloomberg, the British firm Ruffer is also investing alongside One River Digital, which previously became the owner of<\/a> the first cryptocurrency worth more than $740 million.<\/p>\n
Subscribe to ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 the full news feed, ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"
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