Michael Novogratz’s Galaxy Digital set to launch two Bitcoin (BTC) funds
|- Galaxy Digital will be launching two Bitcoin funds as they look to target greater wealth in the United States.
- The new funds aim to bring “the wealth of America,” or people who may have largely remained out of crypto investing
Miichael Novogratz’s crypto merchant bank Galaxy Digital is set to launch two Bitcoin (BTC) funds. It will target people between the ages of 50 and 80, as they aim to bring “the wealth of America,” or people who may have largely remained out of crypto investing, to cryptocurrency markets.
Speaking to Bloomberg, Novogratz, he said the funds will offer third-party custody from major crypto consortium Bakkt and Fidelity Digital Assets, the digital asset arm of American investment management company Fidelity Investments.
Galaxy Bitcoin Fund and Galaxy Institutional Bitcoin Fund The two new Bitcoin funds — Galaxy Bitcoin Fund and Galaxy Institutional Bitcoin Fund — have reportedly been established with Galaxy’s own money and some participation from existing investors, according to the report.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.