Copy link
Increase text size
Decrease text size
Link copied

Galaxy Digital launches two bitcoin funds with Bakkt and Fidelity Digital Assets as custodians

Wed, 20 Nov 2019, 05:25 am UTC

Galaxy Digital, a digital asset management firm, has launched two bitcoin funds with Bakkt and Fidelity Digital Assets as custodians.

The launch follows after Mike Novogratz, CEO and Founder of Galaxy Digital, confirmed last month that the firm was planning to go live with the two funds in order to make it easier for people to get into bitcoin.

According to a press release, the two funds – the Galaxy Bitcoin Fund and the Galaxy Institutional Bitcoin Fund – are passively managed vehicles targeted at institutional and accredited investors. They offer institutionally secure third-party custody, standard tax documentation, and client service support.

The Galaxy Bitcoin Fund requires a $25,000 minimum investment and has quarterly liquidity. The Galaxy Institutional Bitcoin Fund requires a higher minimum investment than $25,000 and has weekly liquidity.

Bakkt, which recently opened its bitcoin custody services to all institutions, and Fidelity Digital Assets, which recently obtained NY trust charter, would serve as custodians for the funds.

"As institutions and sophisticated investors seek exposure to digital assets through new investment products, they are seeking the highest standards in asset security. The Bakkt Warehouse was designed to offer institutional-grade custody in safeguarding digital assets and to support the development of the market alongside products like the Galaxy Bitcoin Funds," said Kelly Loeffler, CEO of Bakkt.

In addition, Bloomberg L.P., which first partnered with Galaxy on the Bloomberg Galaxy Crypto Index, will be the pricing agent. Additional service providers supporting the fund include Deloitte & Touche LLP for audit, Ernst & Young LLP for tax, and Davis Polk & Wardwell LLP for legal counsel.

"Galaxy continues to have high conviction in bitcoin and has made significant strides in helping to bring a more institutionalized footprint to the digital asset ecosystem," said Mike Novogratz, CEO and Founder of Galaxy Digital. "We believe this effort is an important step forward in fulfilling this mission."

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Robert
  • 2020.09.19 01:42:31
I know about stolen Bitcoins a little too much and this is because I have been tricked into investing in a Bitcoin company that turned out to be a scam, so I had my bitcoins stolen.

The digital and virtual nature of the cryptocurrency makes it hard to trace hence it is a nightmare when you get swindled of your coins. Losing my 9 BTC to fraudsters last year was agonizing and tortuous as I did not know where to turn. I gave up hope, beat myself up for being dumb but about the evil nature of the criminal fraudsters. I was licking my figurative wounds with a lot of “what ifs”, wishing to turn back the hands of time when I stumbled upon ASSETRESCUE01 @GMAILCOM

To be fair, I did not take them seriously at first but I decided to give it a shot as I literally had nothing to lose at the point. Recovering lost cryptocurrency is near impossible but by reporting the situation to ASSETRESCUE01 @GMAILCOM , you give yourself a fighting chance at recovering what was lost. They have the technology to do the near impossible. You can simply send an email or WhatsApp on +1 206 745-0108
  • 0
  • ·
  • 0
  • Moses
  • 2020.04.29 18:08:38
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door ???? inbox me for more info....contact me on WhatsApp +1(206)-742-5358 thank you to you all and God bless you .
  • 0
  • ·
  • 0
More
  • Bitcoin (BTC) $10,767.90 (-1.32%)
  • Ethereum (ETH) $358.25 (-1.06%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $228.33 (-1.43%)
  • Binance Coin (BNB) $28.62 (+6.75%)
  • Bitcoin (BTC) $10,767.90 (-1.32%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft