Nickel Asset Management, a U.K.-based hedge fund manager, has raised $50 million for its newly launched crypto investment fund.
Nickel Asset Management, a United Kingdom-based hedge fund manager, has raised $50 million for its newly launched crypto investment fund.
According to a report from Finance Magnates on Sept. 9, the hedge fund has raised $50 million for its newly launched crypto investment fund, Nickel Arbitrage Fund, which aims to take advantage of arbitrage trading in digital assets.
In arbitrage trading, traders buy an asset on one exchange and sell it on another at a higher price, thereby profiting from the price difference in separate markets. Alek Kloda, portfolio manager at Nickel added:
“As long as digital assets and their derivatives trade on multiple exchanges across the globe, with sufficient speed and execution quality, we can profitably make markets, while improving liquidity for other market participants,”
Approval from U.K. regulators
The company further explained that the Nickel Arbitrage Fund is one of the few investment funds focused on cryptocurrencies to have won a stamp of approval from U.K. regulators, in this case the Financial Conduct Authority.
Nickel Asset Management CEO Anatoly Crachilov added that it is just a matter of time until digital assets become part of institutional portfolio allocations for investors around the world.
Controversial U.K. party is first to reveal crypto policy
Cointelegraph previously reported that a far-right party in the United Kingdom published the country’s purportedly first coherent cryptocurrency policy. The National Liberal Party — the membership of which includes former members of the fascist National Front — argued on its website that the U.K.’s current cryptocurrency policy is non-existent and said that the government has failed to take any meaningful stance on crypto regulations.
Source: , CoinTelegraph
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