According to media reports citing informed sources, Brevan Howard's BH Digital Asset Fund has plunged approximately 30% in 2025, marking the most severe annual decline since the fund's inception in 2021. The fund had achieved a 43% return in 2023 and a 52% return in 2024, but suffered significant losses last year. The downturn was driven by a sharp decline in technology stocks, which were impacted by artificial intelligence and faced disruptive risks, subsequently causing substantial volatility in cryptocurrency assets.