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Fidelity Digital Assets’ first custodian role in Europe

Fidelity Digital Assets is to act as custodian to Nickel Digital Asset Management. Digital assets will be secured using long-term cold storage, with Nickel becoming Fidelity’s first European partner fund in the digital assets space.

The news comes with the launch of the Nickel Digital Gold Institutional Fund to allow for secure, efficient, and transparent access to Bitcoin. Nickel Digital Asset Management is a privately-owned London-based investment firm that offers a range of digital asset strategy solutions for institutional investors. The firm deploys highly sophisticated low-latency algorithmic trading, pursuing a range of arbitrage strategies in both spot and derivative markets, as well as a range of directional buy-and-hold products.

The fund will be supported by a bespoke Walled Garden solution developed by digital assets prime brokerage, Copper. The 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. As custodian, Fidelity will take responsibility for Nickel Digital Asset Management’s customers’ assets

Fidelity Digital Assets was established in 2019 by Fidelity Investments to serve European institutions investing in digital assets. The firm offers access to enterprise-quality custody and trade execution services for digital assets to investors such as hedge funds, family offices and market intermediaries.

Chris Tyrer, the Head of Fidelity Digital Assets in Europe, was previously a managing director at Barclays Investment Bank, leading its digital assets project. He also served as Global Head of Commodities Trading for Barclays following a long career in traditional financial markets.

Fidelity provides access to services that are considered foundational for institutions engaging with digital assets, and essential building blocks for advancing digital asset investing, including:

Institutional-Grade Custody of Digital Assets

A secure, compliant, and institutional-grade storage solution for bitcoin, and other digital assets in the future. This consists of vaulted cold storage, multi-level physical, operational and cyber controls.

Trade Execution

Access to a trade execution venue that facilitates trading for clients by providing them access to multiple sources of liquidity through a single platform that leverages a proven internal crossing engine and smart order router.

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