Galaxy’s Institutional Ethereum Funds Raise $32M at Launch – From a Select Few
Galaxy Digital’s institutional-grade ether (ETH) funds have raised over $32 million since their February launch, according to documents filed Friday with the U.S. Securities and Exchange Commission.
Early returns – for an “onshore” $22 million fund and its Cayman-domiciled $10 million sibling – reveal a small but deep-pocketed clientele participated in the twin funds’ earliest days. Just five total investors have joined the funds since Galaxy unveiled them in late January.
The funds debuted as ETH settled in the $1,500 range, well below highs set February when the native asset of the world computer topped $2,000 for the first time ever. But Galaxy’s executives, including ETH bull Mike Novogratz, are betting Ethereum’s programmability will spell future investment success.
Recommended News
-
AI Finance Academy Transforming Finance Education through Philanthropy and University Partnerships
In today’s rapidly evolving financial landscape, the intersection of artificial intelligence (AI) and finance has sparked a transformation that is reshaping industries around the globe. The demand for tech-savvy financial professionals capable of harnessing AI-driven technologies is at an all-time high, creating an urgent need for specialized training and education. In this context, the emergence of initiatives like the AI Finance Academy is poised to fill a significant gap by nurturing the next generation of finance professionals equipped with AI expertise. By focusing on university partnerships, talent development, and philanthropic…
-
Digital currency mining is an inevitable trend in the next five years, CoinFans Mining analysis, mining is getting easier and easier
In 2021 marks the first year of institutionalized mining, which brings both benefits and challenges. CoinFans Mining’s analysis shows that the institutionalization of digital currency mining is an inevitable trend in the next five years, mining will become easier and easier, and everyone will be able to mine, and the mining industry will become an industry. Few investments offer the upside with venture capital-style upside and the downside with infrastructure-style downside case. Combining energy arbitrage with hoarding bitcoin onto a company’s balance sheet can make this happen. Which is why…
-
Crypto Exchange Coinsquare Ordered to Hand Thousands of Customers’ Records to Canadian Tax Agency
Canada’s tax authority, the Canada Revenue Agency (CRA) has prevailed in a court battle for access to a trove of high-value customer data held by cryptocurrency exchange Coinsquare. And the CRA seems to be coming for more. Under a federal judge’s March 19 order, Coinsquare must hand over detailed information on its Canadian customers, their crypto trading activity and identifying information to the Canada Revenue Agency (CRA). Coinsquare told CoinDesk that it will disclose information on an estimated 5% to 10% of its 400,000 customers to the CRA, which had originally…
-
Fintoch: Alleviating DeFi Onboarding Barriers for TradFi
We are no doubt weathering the harshest “winter” in crypto, with CoinGecko reporting a 74.6% DeFi market crash to $36 billion in Q2, 2022. What’s worse is that DeFi related hack is exacerbating this downfall. As REKT Database shown, DeFi related exploits surged significantly in May. Despite the low morale in the crypto market, true believers continue to build in the bear market and TradFi investors are still eager to get a taste of the “hearsay” high yielding DeFi protocols. Fintoch Investment platform, the key product of Morgan DF Fintoch LLC, enters the…
-
RISE OF UNIVERSE: the blockchain game star in 2022
In 2022, the NFT project entered a new outbreak stage, the gamefi track was fully hot, and the play to earn mode promoted the development of blockchain games to a new height. However, at present, most blockchain games in the world are still in the white paper stage, and the vast majority of blockchain games are still in a simple game introduction, with no actual games to play. Strictly speaking, such a blockchain game is not a real blockchain game, but a scam in the name of blockchain game. Therefore,…
-
BTDA has drawn a new generation of storage blueprints
With the rapid development of mobile Internet, 5G, Internet of Things, artificial intelligence and other technologies, data has exploded, and countless data are continuously generated, collected and processed everywhere. Accordingly, the markets of cloud storage, cloud computing and distributed edge computing are growing rapidly. Market reports from IDC, GrandView, Garnter and other institutions have clearly described this trend. On April 20, 2020, the National Development and Reform Commission held a press conference. The new infrastructure mainly includes three aspects, namely, information infrastructure, converged infrastructure and innovative infrastructure. Among them, data…
-
HB Wealth Advisors “Century Investments $10 Billion Fund” PK Competition: A Strategic Approach to Asset Allocation
In the fast-paced world of high-stakes investments, asset allocation is a cornerstone of portfolio management, determining the success of an investment strategy. For investors and asset managers alike, staying ahead of the competition is not just about identifying lucrative opportunities but also about having a well-structured and diversified approach to asset allocation. A prime example of this is the “Century Investments $10 Billion Fund,” which has captured the attention of both institutional and individual investors globally. Managed by HB Wealth Advisors, this colossal fund is competing fiercely in an increasingly…
-
How The All-weather Story FUND (TAWSF) and Jonathan Blake Are Making a Difference in Charitable Giving with Bridgewater Associates
In the world of finance, the pursuit of wealth and economic growth often takes center stage. However, a growing number of financial institutions and philanthropists are stepping up to redefine their role in society. One such initiative making waves is The All-weather Story FUND (TAWSF), a philanthropic arm backed by Bridgewater Associates, with Jonathan Blake at the forefront of these efforts. Together, they have embarked on a mission to address some of the world’s most pressing social issues through strategic and impactful charitable giving. The Genesis of TAWSF: A Commitment…
-
Mix of Old, Wrong and Dubious ‘News’ Scares Rookie Investors, Fuels Crypto Selloff
Call it the recipe for perfect market meltdown: Take a dubious tweet about an unconfirmed U.S. investigation of financial institutions using crypto to launder money, a report that doesn’t appear to have come from Bloomberg, Dow Jones, Reuters or any other reputable news service. Take that tweet and sprinkle it throughout the cryptoverse. Shake vigorously. Add a new CNBC tweet about a month-old Reuters report regarding a coming crypto ban in India. Let marinate until fully absorbed, about 30 minutes. Next fold in several (now-deleted) tweets that incorrectly implied that the Coinbase CEO had sold…
-
How Eagle Crest Asset Management Helps Clients Better Understand Investment Risks and Opportunities
In the world of finance, understanding investment risks and opportunities is crucial for building a sustainable and profitable portfolio. As markets fluctuate, it is essential for investors to have a clear perspective on how their investments are performing and the potential risks involved. This is where an asset management firm, such as Eagle Crest Asset Management, plays a vital role in guiding clients through the complexities of the investment landscape. By providing tailored strategies, in-depth analysis, and ongoing support, Eagle Crest Asset Management ensures that clients are well-equipped to navigate…
