Galaxy Digital’s cryptocurrency investment division, Michael Novogratz, has announced plans to launch two new cryptocurrency funds next month.
According to CoinDesk, citing its own sources, the Galaxy Digital Asset Management division will offer its customers funds for bitcoin. Investors will be able to invest in bitcoin with low fees, while the funds will be managed by qualified specialists.
The minimum amount for investing in the first fund – Galaxy Bitcoin Fund – will be $ 25,000, with profit payments will be made quarterly. The second fund – Galaxy Institutional Bitcoin – will allow you to withdraw funds every week, but will require a minimum account balance of $ 25,000.
Both funds will provide professional control over the storage of bitcoins, tax documentation and customer support. The portfolio manager for both funds will be Paul Cappelli. True, the funds will be passively managed, that is, investments will automatically be invested in the asset.
At the moment, it is not known how much Galaxy Digital received from investors for investing in new funds. Recall that in July, the broker-dealer division of Galaxy Digital received an underwriter license from the US Financial Services Regulatory Agency (FINRA).
Related posts:
GitHub Libra Code draws criticism from users 
Tipping on Reddit and Vimeo in BAT introduced by Brave 
Newcomers to the crypto market have to pay attention to scams and pump and dumps 
Hardly any growth in downloaded crypto apps, despite tripling price bitcoin 
Bloomberg accepts Bitcoin – says cryptomonads are here to stay 
The Central Bank can release their cryptocurrencies earlier than expected
