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
-
Coinbase, Naval, Framework Ventures Back $19M Raise for a Capital-Efficient Stablecoin
Fei Labs, a project building a more capital-efficient decentralized stablecoin, raised $19 million from Andreessen Horowitz (a16z), Framework Ventures, Coinbase Ventures and AngelList founder Naval Ravikant, among others. The raise, disclosed Monday, is another sign competition is heating up among issuers of stablecoins. These cryptocurrencies are designed to hold their value against some mainstream asset, usually (as in Fei’s case) the U.S. dollar. Stablecoins play a linchpin role in the crypto ecosystem, allowing traders to quickly move fiat currency (or the next best thing) between global exchanges to take advantage of…
03/08/2021 -
What Is BitClout? The Social Media Experiment Sparking Controversy on Twitter
Prominent users of Crypto Twitter have suddenly discovered they have another profile on a new social network called BitClout, except over there some people are buying and selling tokens representing their identities. It does not matter whether the people behind those profiles have ever touched the social network. “The core insight behind BitClout is that if you can mix speculation and content together, you can not only get a 10x product that creates innovative ways for creators to monetize, but you also get a new business model that’s not ad-driven…
03/22/2021 -
The world’s first meta-universe integrated platform-FISHWORLD new gameplay
FISH Perfect Rare Fish is a comprehensive platform with meta universe as the background, which integrates FARM, NFTMARKET, NFT blind box, pledge mining, art auction, chain game, and meta universe. It applies the current most popular NFT concept, perfectly combines game elements and DeFi production farming, allowing players to get entertainment while playing games. Players can buy or collect various card packs of NFT products to get game experience bonuses. They can increase the energy gained in many game scenarios to enhance the speed of fry feeding. They can also…
01/08/2022 -
McLaren Partners With Turkish Crypto Firm to Launch Formula 1 Fan Token
McLaren, the legendary Formula 1 auto racing team, has entered into a long-term partnership with Turkish crypto firm Bitci.com to create an official fan token for the team. The U.K.-based McLaren will launch its fan token – which it says is the first of its kind in Formula 1 racing – through the new partnership. Bitci.com will also become an official partner of the racing team, according to Wednesday’s announcement. Bitci.com is a Turkish cryptocurrency exchange with around $50 million in 24-hour traded volume. McLaren joins other prominent sports teams that have launched fan tokens….
03/24/2021 -
WEB3.0 major milestone: ADDAO blockchain advertising technology platform is about to be officially launched!
What is Web 3.0 advertising? In one sentence, compared with the current Web 2.0, Web 3.0 advertising is more user-centric, more efficient, transparent and secure intelligent advertising. As we emerge from the Web 2.0 ecosystem, publishers and advertisers alike are increasingly dissatisfied with this opaque and complex status quo. So regaining transparency and trust across the entire value chain—increasing user engagement and monetizing premium publishers—is the true ad industry value creator. Therefore, the ADDAO blockchain advertising technology platform came into being, and has successfully completed three rounds of IDO. According…
02/18/2022 -
Children in Nigeria who need basic necessities have been given supplies by CoinW Public Welfare Action
CoinW shows that it has empathy for the problems of the poor in Africa and donates aid and relief materials, to raise awareness of the brand’s purpose. On June 13, the African team of CoinW (www.coinw.com), the world’s leading cryptocurrency trading platform, and some volunteers from the crypto community pays a visit to Living Fountain Orphanage in Lagos, Nigeria, with a batch of charity supplies for the children to show their love and care. Covid-19 exacerbates poverty in Africa. Due to the economic impacts brought by the Covid-19 epidemic, poverty…
06/13/2022 -
Forget Buying the Dip, MicroStrategy Buys $15M of Bitcoin as It Nears the All-Time High
Business analytics firm MicroStrategy has made yet another large bitcoin (BTC, -0.15%) purchase, buying a further $15 million worth. MicroStrategy announced Friday it purchased approximately 262 more BTC at an average price per coin of $57,146, just a little over $1,000 away from the cryptocurrency’s all-time high. This latest purchase brings the firm’s total bitcoin holdings to around 91,326, bought for an average of $24,214 apiece. At the time of writing, this is equal to around $5.1 billion, compared to the approximate $2.21 billion MicroStrategy paid for them. The company’s share price has partly recovered from a…
03/12/2021 -
Grayscale, New Grayscale Luna and Decentralized Grayscale Blackhole DAO: A Revolution Battle for the DeFi World
The Matthew effect is increasingly dominant in the traditional financial world as revealed by Credit Suisse’s Global Wealth Report 2021. The gap between the rich and the poor continues to rise sharply around the globe and the richest 10% command 82% of the world’s wealth, with the richest 1% even grasping nearly half of the number (45%). Wealth and vertical social mobility have become even more faraway dreams for all grassroots. Be it top investment organizations in the traditional financial sector such as Sequoia Capital, Blackstone, BlackRock and Buffett’s…
04/20/2022 -
Crypto Founders and Enthusiasts alike gathered at Fintoch Product Launch Event
Fast deliver The Product Launch Event hosted by Fintoch on Oct.28th was a success. The event took place located in Los Angeles Downtown. It attracted hundreds of crypto founders and enthusiasts to gather. In the event, Fintoch announced its plan for Fintoch public chain internal testing by the end of December 2022. — The first offline product launch meeting hosted by Fintoch in Los Angeles downtown was a huge success! Fintoch officially announced its goal to build a financial public chain that would take human society forward. It is worthy to look forward to the community…
11/02/2022 -
Betfairand Arthur Holland foundation, Xinze capital, encryption assetresearch institute Jointlypromote online sports gambling business
Everystep is setting a new height, and Betfair is ushering in an importantmoment. On December 28, 2020, we officially become strategic partnerswith Arthur Holland foundation, Xinze capital and encryption assetresearch institute. We will jointly promote online sports gamblingbusiness. Asyou all know, we are one of the largest gaming companies in theworld. We have been established for more than 20 years. We are famousfor efficient price feedback. We have a real gaming website where wequantify sports and other activities and allow others to buildopposing models to bet on us. Foundedin 2009…
12/29/2020