Alan Howard and Paul Tudor Jones expanding their crypto bets

According to a report, two major investors are expanding their crypto bets, as hedge funds like Hudson Bay Capital Management benefit from betting on digital assets are expanding their cryptocurrency bets. 

As the founder of Tudor Investment Corporation attempts to hedge inflation, Jones has bought up cryptocurrencies, which is at their highest in 40 years.

Howard, the co-founder of Brevan Howard Asset Management, launched a crypto hedge fund in January that relies on the movement of Bitcoin, Ethereum and other digital currencies. He himself invests in digital assets, and his company opened a cryptocurrency division in September and currently manages a quarter of a billion dollars, the report said.

According to a previous report, Coinbase data showed institutional investors traded $1.14 trillion worth of cryptocurrencies last year, a surge from just $120 billion in 2020 and more than double retail traders’ $535 billion in 2021.

Some investors are hesitant to invest in this area due to regulatory uncertainties. However, as President Joe Biden has just announced plans to sign a presidential order to extend scrutiny to the crypto market, asset classes could soon become somewhat clear from regulators. Ken Griffin of Citadel Securities has also said that his firm could be involved in crypto in the coming months.