The firm owned by Alan Howard is planning a $ 1 billion crypto venture!

The firm owned by Alan Howard is planning a $ 1 billion crypto venture! The firm owned by billionaire investor Alan Howard is planning to launch a $ 1 billion investment venture in a number of crypto currency funds aiming to capitalize on the industry revival this year. Elwood Asset Management CEO Bin Ren told the Financial Times that Elwood Asset Management is working on a platform to design crypto fund portfolios for institutional investors. He stated that their aim is to enable investors to avoid fluctuations in the risk-laden cryptocurrency market and to direct them to an elite fund group with higher quality operations. Cryptocurrencies have seen a huge resurgence this year after massive growth and a subsequent decline. According to the HFR (Measure Funds Research Authority) data group, Crypto-focused measure funds increased by an average of 60 percent by the end of July, helping Bitcoin a 173 percent increase over the same period. While the growth of Litecoin, ethereum, and other popular digital assets was overlooked, there were still subcoins that saw solid growth. “Losing traditional assets in the real world is much more difficult than losing assets in the digital world.” Measure funds gained, on average, more than 2,900 percent during the 2017 frenzy, before the fall of close to 70 percent last year. This led to the disappearance of many market commentators from the industry. As a result, the majority of around 200 to 300 crypto-hedge funds are viewed by some investors as a highly risky corner of the asset management industry. “Losing traditional assets in the real world is much more difficult than losing assets in the digital world. If you enter a bitcoin transfer at the wrong address, it will disappear forever, ”says Bin Ren, CEO of Elwood Asset Management. He also adds that Elwood has scanned crypto-measure funds and identified funds" possibly close to 50 that satisfy our determinations.”     Source: https://www.ft.com/ You may also be interested in: Record Peak in Bitcoin History!