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Nickel Digital Rotates Flagship Arbitrage-Strategy Fund Largely Out of Crypto Into Cash: Report

The May sell-off in crypto has seen a number of leveraged positions held by investors with losses.

Updated Sep 14, 2021, 1:20 p.m. Published Jul 2, 2021, 2:55 p.m.

Hedge fund Nickel Digital Asset Management put its flagship arbitrage-strategy fund largely into cash during the crypto market downturn, Bloomberg reported.

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The Digital Asset Arbitrage Fund, which launched in 2019, focuses on crypto assets. It has seen positive monthly returns since its inception and has gained about 13% this year, Bloomberg said.
The May sell-off in crypto saw a number of leveraged positions, especially those of retail investors, with losses.
Anatoly Crachilov, co-founder of the hedge fund, said he expects the doldrums will end soon because institutional investors are increasingly interested in the assets.
“The sideways market conditions throughout the month led us to exercise financial discipline and keep powder dry until risk/reward of re-emerging market opportunities warrant efficient deployment of capital,” Crachilov said.

investment Cash Hedge Fund Crypto Assets

Tanzeel Akhtar

Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.