Fidelity offers custody services to new bitcoin fund
16 January 2020 London
Image: Shutterstock
Fidelity Digital Assets will provide custody services to the new fund, Nickel Digital Gold Institutional.
Nickel Digital Gold Institutional fund marks Nickel Digital Asset Management’s second cryptocurrency offering, which is set to allow for secure, efficient and transparent access to bitcoin.
Digital assets will be secured using long-term cold storage provided by Fidelity Digital Assets, with Nickel becoming Fidelity’s first European partner fund in the digital assets space.
In addition to Fidelity, the fund is also set to be supported by a bespoke Walled Garden solution developed by digital assets prime brokerage, Copper.
It was noted that the “innovative” infrastructure allows digital assets to be moved safely between and stored on several spot and derivative exchanges, providing best execution while minimising counterparty risks and enabling secure asset transfers.
Michael Hall, CIO of Nickel Asset Management, commented: “We have been using Copper’s Walled Garden for over a year. For active traders like us, it is a critical tool for managing assets and transfers securely and efficiently across multiple trading venues, while ensuring the safety of investors’ capital. We look forward to managing the BTC in Digital Gold fund using Copper infrastructure in 2020 and beyond.”
Dmitry Tokarev, founder and CEO of Copper, commented: “We’re thrilled to see Nickel go from strength to strength in the digital asset space. They have been key partners in developing Copper’s Walled Garden, and we’re very proud to see it implemented for their second fund.
Nickel Digital Gold Institutional fund marks Nickel Digital Asset Management’s second cryptocurrency offering, which is set to allow for secure, efficient and transparent access to bitcoin.
Digital assets will be secured using long-term cold storage provided by Fidelity Digital Assets, with Nickel becoming Fidelity’s first European partner fund in the digital assets space.
In addition to Fidelity, the fund is also set to be supported by a bespoke Walled Garden solution developed by digital assets prime brokerage, Copper.
It was noted that the “innovative” infrastructure allows digital assets to be moved safely between and stored on several spot and derivative exchanges, providing best execution while minimising counterparty risks and enabling secure asset transfers.
Michael Hall, CIO of Nickel Asset Management, commented: “We have been using Copper’s Walled Garden for over a year. For active traders like us, it is a critical tool for managing assets and transfers securely and efficiently across multiple trading venues, while ensuring the safety of investors’ capital. We look forward to managing the BTC in Digital Gold fund using Copper infrastructure in 2020 and beyond.”
Dmitry Tokarev, founder and CEO of Copper, commented: “We’re thrilled to see Nickel go from strength to strength in the digital asset space. They have been key partners in developing Copper’s Walled Garden, and we’re very proud to see it implemented for their second fund.
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