Bitcoin’s recent surge to over $107,000 and its 150% year-to-date gain are driving a significant rise in enquiries from new investors, according to digital assets hedge fund firm Nickel Digital Asset Management.
The London-based firm, which was founded by alumni from Bankers Trust, Goldman Sachs, and JPMorgan, has seen increased interest from both existing clients and first-time institutional investors following the US election results.
Nickel’s flagship fund, Diversified Alpha – a quantitative, multi-PM fund – has benefited from a record year, posting over 30% YTD performance, and has experienced a 115% increase in assets under management (AUM) since January.
According to a press statement, the surge in inquiries is largely coming from institutional investors with no prior exposure to digital assets.
Earlier research from Nickel Digital found that while almost all institutional investors and wealth managers surveyed believed bitcoin would eventually surpass $100,000, only one in five expected this to occur within two years. About 40% anticipated it would take three years or more to reach that milestone.
