PANews reported on February 18 that, according to CoinDesk citing the Financial Times, Brevan Howard's BH Digital fund, which focuses on investments in crypto tokens and digital assets, fell 29.5% in 2025, marking its worst annual performance since its inception in 2021, while Bitcoin fell 6% during the same period.

The fund recorded gains of 43% and 52% in 2023 and 2024, respectively, benefiting from the recovery of the crypto market from its 2022 lows and Bitcoin's breakthrough of $100,000 in December 2024. One hedge fund investor stated that the fund contains a significant amount of private equity and venture capital vehicles, which generally underperformed the crypto market last year. Brevan Howard did not immediately respond to a request for comment.