Brevan Howard's crypto fund lost 30% in 2025 in worst year since inception: FT
Brevan Howard's crypto fund experienced a nearly 30% loss in 2025, marking its worst performance since 2021.Summary
Investment manager Brevan Howard's cryptocurrency fund, BH Digital Asset, reportedly lost 29.5% of its value in 2025, making it the worst calendar year performance since its 2021 inception, according to the Financial Times (FT). This decline occurred as the broader bitcoin bull run faltered, with bitcoin itself losing 6% during the same period, meaning the fund underperformed the benchmark. Despite the poor showing in 2025, the fund had previously seen significant gains, achieving 43% in 2023 and 52% in 2024, fueled by the crypto market recovery and bitcoin surpassing $100,000. An investor noted that the fund includes private equity and venture capital instruments, acknowledging that 2025 was a difficult year for the crypto market overall.
(Source：CoinDesk)