UK Fund That Aims to Capitalize on Crypto Volatility Raises $50 Million

U.K.-licensed Nickel Asset Management says it has raised $50 million for a fund aimed to make profits off the volatility of cryptocurrencies.

The firm said Monday it has now “soft closed” its Nickel Arbitrage Fund to new investors, two months after launch. The raise was joined by funds of funds and family offices in the U.K., Europe, North America and Singapore.

Regulated by the Financial Conduct Authority, the firm says the arbitrage fund strategy “harnesses the extreme swings in crypto markets to deliver low-volatility, consistent performance.

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