Ah, Brevan Howard’s BH Digital Asset fund, once a gleaming star in the crypto galaxy, plummeted by 29.5% in 2025! What a delightful twist in the tale! This marks its most disastrous performance since its inception in 2021, as the crypto markets and tech stocks were mercilessly battered by the relentless storm of AI-driven chaos.
The Rollercoaster of Record Losses
Behold! The grand spectacle of financial misfortune! Brevan Howard’s BH Digital Asset fund, basking in the afterglow of past triumphs-43% gains in 2023 and a dazzling 52% in 2024-has now fallen from grace, descending nearly 30% in 2025. Such is the fate of those who gamble in the volatile world of crypto.
As reported by the illustrious Financial Times, at the dawn of 2025, Brevan Howard’s digital assets unit was managing a whopping $2.4 billion. However, this fortune crumbled under the weight of disastrous losses in the crypto markets, exacerbated by tech stocks stumbling thanks to our friendly neighborhood AI wreaking havoc. Remember that glorious moment when Bitcoin soared to over $126,000? Well, it decided to take a 6% vacation instead.
Brevan Howard’s plight mirrored a larger malaise in the hedge fund universe. According to industry benchmarks, many illustrious crypto hedge funds found themselves in a similarly dismal state throughout 2025, reeling from double-digit losses as risk appetite fled faster than a cat from a bath, and liquidity depth evaporated like morning dew.
AIMA’s Annual Global Crypto Hedge Fund Report presents an amusing paradox: while over half of traditional funds now dabbled in digital assets, performance diverged sharply. Those ambitious venture-heavy strategies, it seems, were ill-prepared for the year’s wild systemic volatility, suffering the brunt of the market’s savage deleveraging.
Leadership changes added a theatrical flair to the chaos at BH Digital Asset. Gautam Sharma, the chief executive and chief investment officer, exited stage left in 2025, making way for Chris Rayner‑Cook, formerly head of trading and financing at Coinbase. But fear not! The fund continued its audacious escapade into venture rounds, backing firms like Superstate, which boldly tokenizes traditional assets, and TRM Labs, which diligently tracks illicit blockchain activity. Because why not keep the drama alive?
Meanwhile, Brevan Howard’s other strategies performed a tad better but with modest applause. Its Master fund gained less than a whisper of 1% in 2025, only to rebound with enthusiasm in January, returning a lively 4%. This contrast highlights the perilous tightrope walked by crypto-focused funds across the industry-while diversified strategies emerged more resilient and ready for the next act.
FAQ ❓
- How did Brevan Howard’s BH Digital Asset fund perform in 2025? It slumped 29.5%, its worst annual decline since launching in 2021. Quite the spectacle!
- What drove the losses? Crypto markets fell alongside tech stocks, with bitcoin down 6% for the year. A recipe for disaster!
- Were other funds affected globally? Indeed, many crypto hedge funds posted double-digit drawdowns as liquidity collapsed and risk appetite vanished. A global party pooper!
- What changes occurred at Brevan Howard? CEO Gautam Sharma exited in 2025, replaced by ex‑Coinbase executive Chris Rayner‑Cook. The drama continues!
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2026-02-18 14:09