News

Digital asset manager Nickel plans Mena expansion

Cryptocurrencies2One of Europe’s largest digital assets hedge funds is planning to expand its offering to the Middle East. Nickel Digital Asset Management has identified the Mena region as one of its “top priority markets” following a survey of institutional investors and wealth managers in the UAE. Nickel’s research found that half of the respondents plan to “dramatically” increase their allocation to crypto assets between now and 2023 while the half will add to their current exposure. The main reasons given for the increased allocation were the long-term capital appreciation of the assets, the improving regulatory environment and the increased liquidity of digital assets. However, the survey, which canvassed 20 UAE investors collectively overseeing US$41 billion of assets, also found that concerns remain about regulatory clarity, security of assets and liquidity.    “Despite the recent correction in the crypto market, our survey confirms there is an ever-increasing appetite for this asset class among professional investors, willing to take constructive longer-term view on this asset class,” said Anatoly Crachilov, chief executive and founding partner at Nickel. ©2021 funds global mena

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