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Nickel reopens its Diversified Alpha Fund

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London-based Nickel Digital Asset Management (Nickel) is reopening its systematic Diversified Alpha Fund following a period of strong sustained performance. 

It will reopen to new and additional subscriptions from 31 December 2025.alph

The fund, which employs a non-directional, multi-manager approach integrating a portfolio of capacity-constrained digital asset strategies into a single, investable fund, was soft closed in February 2025 following a 150 per cent surge in assets under management over the prior 12 months.

The decision to reopen follows Nickel’s Investment Committee’s latest review which concluded that additional capital can now be accepted without compromising the fund’s ability to deliver its long-term target return.

Since the soft close, Nickel Digital’s multi-manager platform, which houses multiple independent trading teams running systematic crypto strategies and operating under Nickel’s centralised risk management framework, has continued to strengthen, expanding from 35 pods on 1 Jan 2025 to 83 today, a 137 per cent YTD growth. 

This enables the fund to further responsibly deploy incremental capital while maintaining tightly controlled and disciplined risk oversight.

That framework demonstrated its resilience during October’s flash crash following President Trump’s threat of new 100 per cent tariffs on Chinese imports. Nickel saw its bespoke risk management system monitor a 10-fold surge in trading activity as managers sought to capture dislocations. More than USD2 billion in trades were executed through the platform in a single day as volatility spiked.

Within hours, Bitcoin fell 9 per cent, Ethereum dropped 12 per cent, UNI plunged 52 per cent, and AAVE sank 66 per cent but according to data from BarclayHedge the Diversified Alpha Fund delivered a net return of +1.5 per cent in October. BarclayHedge data also suggests the volatility of returns for the fund over the last 12 months has been around 6 per cent.

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