RATE Group | Michael Novogratz’s Galaxy Firm Is Launching New Bitcoin Funds
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Michael Novogratz’s Galaxy Firm Is Launching New Bitcoin Funds

25 Oct Michael Novogratz’s Galaxy Firm Is Launching New Bitcoin Funds

Posted at 02:06h in Bitcoin News by

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Michael Novogratz, Galaxy Digital CEO and chairman, spoke to CNBC’s Squawk Box where he said that a new Bitcoin (BTC) fund was in the works.

Novogratz alludes to new funds in interview

On Oct. 24, Novogratz hinted that Galaxy Digital Asset Management has plans to launch a new Bitcoin fund to allow people easy access to the world’s most popular cryptocurrency. He told Squawk Box hosts that Galaxy “will have a fund in time.” Novogratz said:

“It is just a Bitcoin fund that takes care of custody, takes care of pricing […] it just allows people to invest in Bitcoin without having to set up a Coinbase account, without worrying that their phone is going to get lost.”

Coindesk reported that Galaxy will launch two Bitcoin funds in November and provide a seed investment into both funds, according to an unnamed source. The first fund, the Galaxy Bitcoin Fund, will have a minimum investment of $25,000, while the second fund, the Galaxy Institutional Bitcoin Fund, will require minimums…

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