Crypto Fund Cautions That Record Quarter Is ‘Not a New Normal’
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Nickel Digital Asset Management has tempered expectations for its $80 million Diversified Alpha fund after elevated cryptocurrency volatility powered its best-ever quarterly performance.
The fund, which seeks to exploit market pricing inefficiencies, returned a net 11% in the first three months, according to an investor presentation seen by Bloomberg News. Nickel typically guides investors to expect 15%-20% annual returns for the vehicle, Chief Executive Officer Anatoly Crachilov said in an interview.