Billionaire Alan Howard launches a crypto investment fund

Director Bill Howard, billionaire Alan Howard, has announced that it will launch a new cryptocurrency investment fund. It will take the form of a crypto portfolio platform that aims to make stable investments in a market known for its volatility.

The platform is targeted at institutional clients and will make strategic investments in other crypto funds.

The fund is designed to manage up to $ 1 billion in investments. According to the analytical company Hedge Fund Research, cryptocurrency investment groups have grown by nearly 60% in the first two quarters of this year.

Price on education and security

Elwood Asset Management, the company that manages Howard’s personal digital assets, will oversee the launch, construction and direction of the new fund.

“The loss of traditional assets in the real world is difficult. In the digital world, it is very easy to lose assets. Put the wrong address for a bitcoin transfer and they are gone forever ”,

said Bin Ren, CEO, blockchain fund specialist at Elwood.

Ideally, the Howard project will identify sufficient firms to invest in to provide its clients with portfolio options that meet their risk profiles, liquidity needs and diversity requirements.

Elwood can design custom portfolios for each investor. For this service, Elwood will charge an undisclosed administration fee, in addition to a fee for accessing the underlying funds.

Earlier, Elwood and investment management company Invesco launched ETFs with stake in blockchain technology companies.

Billionaire Alan Howard started investing in cryptocurrencies in 2017, including an early investment in Block.one, the creator of EOS.