Galaxy Digital launches two new Bitcoin funds in November

28.10.2019 / 01:29

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Galaxy Digital Asset Management launches two new Bitcoin funds in November.

Led by former hedge fund manager, billionaire Michael Novogratz, Galaxy is offering the new two low-cost, institutional-grade Bitcoin funds, making it an initial investment.

To invest in the Galaxy Bitcoin Fund, a minimum investment of $ 25,000 is required, and it is possible to split the investment every quarter. The fund will allow monthly withdrawals of at least $ 25,000.

Paul Cappelli will be the portfolio manager for both funds, but they will be managed passively, which means that investments (in this case in Bitcoin) will be automatically selected. Asset management divisions of the Galaxy are led by Steve Kurz.

However, it is not yet clear how much money the Galaxy aims to raise for the two funds.

Galaxy Digital is currently offering the Galaxy Crypto Index Fund, offering exposures to the largest digital currencies, and is following the Bloomberg Galaxy Crypto Index.

Trader Martin Nikolov

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Galaxy Digital launches two new Bitcoin funds in November

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