The Nickel Digital Gold Institutional Fund will use Fidelity’s services for long-term cold storage of BTC.

The UK-regulated Nickel Digital Asset Management announced Tuesday the launch of the Nickel Digital Gold Institutional Fund, its second cryptocurrency offering. The digital assets of the fund will be secured using long-term cold storage provided by Fidelity Digital Assets. For Fidelity, Nickel Digital represents its first European partner fund.

Fidelity Investments, the $7.8 trillion investment management giant, incorporated its UK arm on December 16, 2019. Its brief: to provide crypto services to European businesses, hedge funds, and family offices.

Fidelity Digital Assets’ European focus

“Having just entered the European market at the end of last year, we’ll continue to meet with investors who are currently investing in or planning to invest in digital assets,” Fidelity Digital Assets’ Europe head, Chris Tyrer, told The Block, as reported by Yahoo! Finance. “However, our focus will be on developing our European client base and delivering operational and service excellence.”

Nickel Digital Asset Management

Nickel Digital Asset Management, a private, London-based investment firm, offers various digital asset strategy solutions for institutional investors. Its activities include:

• sophisticated low latency algorithmic trading
• arbitrage strategies in sport and derivative markets
• a range of directional buy-and-hold products

Institutional interest growing in crypto

Fidelity’s Tyrer is hopeful that the new year would bring increasing institutional interest in digital services.

“Since we entered this market, we’ve already seen a maturation of interest, which has progressed from the early adopters to more mainstream interests from the likes of family offices and endowments, for example,” Tyrer said.

Further, Fidelity Digital Assets UK offers institutional-grade, crypto linked services, including custody offerings to safeguard holdings and execution services 24 hours a day, seven days a week.

“We believe it is only a matter of time until digital assets become part of regular portfolio allocation for forward-looking institutional investors,” said Anatoly Crachilov, CEO of Nickel in London. “While the lack of transparent and cost-efficient access held back allocators’ diversification efforts into this asset class amongst institutional investors so far, we are on a mission to challenge the status quo. We have built an institutional-quality gateway to this new asset class,” he added.

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