Nickel Digital Asset Management launched a new fund called Digital Gold Institutional and dedicated to Bitcoin. London manager hopes to raise $ 1 billion within 18 months.
In an interview with Bloomberg, the CEO of Nickel Digital Asset Management, Anatoly Crachilov, presented the Digital Gold Institutional.
Founded last year by 3 former executives of Goldman Sachs, JP Morgan and Deutsch Bank, the company, authorized by the FCA and which already manages a crypto arbitrage fund of 50 million dollars, plans to raise $ 1 billion with accredited investors for its new fund.
"We can see demand for our first fund, so this is the right inflection point for the market to see this large institutional capital flow. People are ready to go, ”said Crachilov.
While some investors consider Bitcoin like the new digital gold, the investment manager supports the comparison with his fund Digital Gold Institutional.
During the year 2019, the Gold prices, an asset considered to be a safe haven, has made considerable progress. Bitcoin meanwhile, recorded strong growth at the start of the year, only to fall again last summer. Since January 1, its price has increased by almost 20%
The American Fidelity Digital Assets, which recently launched its crypto-services in Europe, will be the main depositary of the fund, supported by the brokerage firm Copper.
“We are seeing growing interest from European institutional investors in digital assets. Nickel's latest offering creates a secure institutional level gateway to access this market, ”commented David Fauchier of Cambrial Capital.
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