How U.K. crypto hedge fund NickelDigital avoided the worst of the crypto market rout this year. mikeybellusci reports
A London-based cryptocurrency hedge fund is staying afloat despite the sharp downturn this year in the price of digital assets.
Nickel’s CEO Anatoly Crachilov credits the positive performance to not taking directional views on the market, nor deploying long or short bets on crypto assets. Instead, the company mainly relies on cryptocurrency price dislocations. “What you’re really exploiting is dislocation between spot and derivative markets,” along with arbitrage across different crypto exchanges, Crachilov told CoinDesk.
Nickel’s arbitrage fund avoided Terra exposure, though in a bright spot for the industry, Crachilov says that derivative markets remained “very orderly” during Terra’s collapse. He cited most exchanges remaining open for trading, whereas in previous years, there was more systemic risk for crypto assets and exchanges. The ecosystem has improved, he added.
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