Elwood Asset Management, a digital investment firm owned by billionaire hedge fund manager Alan Howard, is reportedly planning a crypto venture that could have up to $1 billion in assets under management.
According to a recent report by the Financial Times, Elwood is developing a new platform that is designed to guide institutional investors to find and invest in fully vetted cryptocurrency funds.
The platform supposedly will combine factors including investment risk, % return projections, and liquidity as major inputs when determining the quality of a fund. No additional information has been released at this time, but Ren does notes that he plans to charge a percentage fee on each connection made.
Given the amount of capital flowing into the crypto sector from institutions, Ren believes that the new platform has the potential to be a $1 billion opportunity.
Ren notes that his firm’s system of crypto fund due diligence has identified roughly 50 candidates that would qualify for institutional investment. This is notable as there are hundreds of funds currently available to investors. However, that number has seen declines over the past year.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.