Share this article
Galaxy Digital to Launch 2 New Bitcoin Funds in November
Galaxy Digital's asset management division is launching two bitcoin funds in November, according to a source with knowledge of the matter.
Updated Sep 14, 2021, 1:51 p.m. Published Oct 24, 2019, 8:57 p.m.
Make us preferred on Google
Galaxy Digital Asset Management, a division of the merchant bank Galaxy Digital, is launching two bitcoin funds in November, according to a source with direct knowledge of the matter.
Headed by billionaire ex-hedge fund manager Michael Novogratz, Galaxy is offering the funds to give accredited investors low-fee, institutionally managed bitcoin exposure and will make a seed investment into both funds. Novogratz hinted that the funds were in the works on CNBC.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The Galaxy Bitcoin Fund will require a $25,000 minimum investment with optional quarterly redemptions. The Galaxy Institutional Bitcoin Fund will allow weekly withdrawals and require minimums higher than $25,000. Both funds will offer professional oversight of bitcoin storage, tax documentation, and client service support.
Paul Cappelli is the portfolio manager for both funds, though they will be passively managed, meaning the investments (in this case, bitcoin) are automatically selected. Galaxy's asset management division is led by Steve Kurz.
It is unclear how much money Galaxy aims to raise from investors for either fund.
Currently, Galaxy Digital offers the Galaxy Crypto Index Fund, which provides exposure to the largest cryptocurrencies by market cap by tracking the Bloomberg Galaxy Crypto Index.
Michael Novogratz image via CoinDesk archives.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
Top Stories
