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.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
