Investing Titan Launching $1 Billion Crypto Fund — BTC, Ethereum, XRP, Litecoin, Bitcoin Cash, EOS, Tron, Cardano Forecasts

[the_ad id=”36860″]

Investment firm Elwood Asset Management is starting an institutional crypto hedge fund.

The London-based firm is led by billionaire Alan Howard, who started his financial career as a bond trader in the 1980s at Salomon Brothers. His goal is to have the new fund reach $1 billion in assets, reports the Financial Times.

Howard has an extensive track record and institutional reach. Brevan Howard, the European hedge fund management company he launched in 2002, has an estimated $18 billion under management as of 2016. The fund is known as “one of the world’s leading global macro absolute return managers”, servicing sovereign wealth funds, foundations, endowments, and corporate and public pension plans. The global group has offices in London, New York, Geneva, Jersey, Hong Kong, Washington and Singapore.

Reports Bloomberg,

“Brevan Howard Asset Management’s main hedge fund posted its best year since the end of the global financial crisis as the investment firm led by billionaire Alan Howard joined a number of macro managers in profiting from volatile markets.”

[the_ad id=”36860″]

The new venture is not Elwood’s first foray into the crypto movement. The company rolled out the Elwood Blockchain Global Equity Index in March, which is an exchange-traded fund (ETF) tracking companies that are building infrastructure in the blockchain and crypto ecosystem.

Right now, the crypto market is moving sideways. Bitcoin is up 0.02% according to the latest data from COIN360 at time of publishing. Ethereum is down 0.73% at $168.09, XRP is down 2.31% at $0.2540 and Litecoin is down 0.55% at $64.26.

FXStreet’s Tanya Abrosimova says Bitcoin and the crypto market at large remain vulnerable.

“The cryptocurrency market is range-bound mostly with a bearish bias as Bitcoin and all major altcoins are consolidating losses incurred during the previous days…

an average daily trading volume increased to $55 billion, while Bitcoin’s market dominance stayed marginally above $69.0%.”

[the_ad id=”36860″]

Here’s a look at the latest forecasts from across the cryptosphere.

Bitcoin

FXStreet – Bitcoin and major altcoins vulnerable to new losses

NewsBTC – Bitcoin now on track to test $9,000

Ethereum

The Merkle – Next level of support for ETH at $163

XRP

FX Empire – XRP leaving major support and resistance levels untested

Litecoin

Crypto Potato – LTC finds support at $63 with decline briefly stalled

Bitcoin Cash, EOS, Tron, Cardano

NewsBTC – Crypto market extends losses: BCH, EOS, TRX, ADA analysis

[the_ad id=”36860″]

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

The post Investing Titan Launching $1 Billion Crypto Fund — BTC, Ethereum, XRP, Litecoin, Bitcoin Cash, EOS, Tron, Cardano Forecasts appeared first on The Daily Hodl.