Galaxy Digital, the cryptocurrency financial services giant led by CEO Mike Novogratz, is reportedly planning to launch a new, dedicated hedge fund focusing exclusively on the digital asset ecosystem. The fund, which is rumored to target an initial capital raise of $100 million, marks a significant expansion of Galaxy’s existing asset management division. Sources familiar with the matter indicate that the hedge fund will adopt a multi-faceted investment strategy, potentially encompassing long/short positions in major cryptocurrencies, exposure to decentralized finance (DeFi) protocols, and investments in blockchain infrastructure companies. The initiative is aimed at meeting the increasing demand from institutional and qualified investors for actively managed crypto exposure. This strategic move underscores Novogratz’s continued confidence in the institutional maturation and long-term viability of the digital assets market, positioning Galaxy Digital to capitalize on specialized investment opportunities.
Source: Novogratz’s Galaxy Digital plans $100 million hedge fund with crypto focus: report
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