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
-
Bitcoin’s Taproot Activation Gains Momentum From New ‘Speedy Trial’ Proposal
Bitcoin developers have been debating the best way to activate the Taproot upgrade for at least a year. Some are hopeful a new proposal called “Speedy Trial” might put an end to the debate, by bringing forth a solution that more developers can get behind. Ideated by Blockstream developer Russell O’Connor and written up on the Bitcoin developer email list by technical Bitcoin writer David Harding, “Speedy Trial,” would take a quicker approach than some of the other proposals in determining if miners are ready for activation of Taproot. All of the largest…
-
Coinbetter: Outlook for Cryptocurrency in 2022
Taking a look at the fall, the factors affecting bitcoin’s decline are increasingly complex from different dimensions. Bitcoin’s fall from $40,000 to its nadir of $32,000 is undoubtedly driven by the linkage of THE US stock market and the expectation of the Federal Reserve’s monetary policy. On the day before the Fed’s decision, U.S. stocks opened down, but bitcoin rebounded, petering out at $38,900, an important sign that the broader market is starting to move independently of U.S. stocks. The United States time on January 27, 3 o ‘clock, the…
-
JPMorgan Posts 34 Blockchain Jobs as It Beefs Up JPM Coin
U.S. mega-bank JPMorgan has 34 open blockchain job positions posted on its website. It’s quite possibly a record for any company in the space (JPMorgan has been noted for its enthusiastic blockchain hiring in the past). The majority of the job openings, posted this month and last, are spread across the U.S., India and Singapore. Many of the jobs relate directly to Onyx, the division created in October of last year to oversee JPM Coin, the bank’s wholesale payments token. By signing up, you will receive emails about CoinDesk products and you agree to…
-
SoulSwap off the central chain on the trading platform shocked the attack, grand online press conference
Recently, SoulSwap, a decentralized financial data aggregation platform initiated by the Soul Blockchain Lab in the United States and developed by the world’s top Silicon Valley technical team, is about to be launched shockingly. As a platform based on decentralization and with core underlying technology, SoulSwap is achieving rapid fission with the exclusive “coin mining + computing power mining + promotion mining” model. The SoulSwap team held a grand press conference today, announcing that SoulSwap, a digital asset trading platform with a decentralized operation model, will be launched soon,…
-
NFT’s with True Ownership and Asset Backed Utility
Viviverse X ME Holdings join in an exclusive partnership to develop the worlds first real estate NFT collection in the metaverse. Each NFT gives the owner true ownership of an actual property that is developed by ME Holdings and rewards them with asset backed yields in terms of rental and capital gains generated. In addition owners simultaneously earn staking and utility rewards in Viviverse. The first batch will be minted on Aug 31st and made available throughout the Summer of 22. List pricing and whitelisting procedures will be made known on…
-
Staking as an Asset Class? This Swiss Institutional Fund Is Jumping In
While institutional investors around the world are just getting their heads around bitcoin (BTC, +5.09%), asset managers in crypto-friendly Switzerland are heading into staking on next-generation blockchain networks. Announced Friday, Zurich-based investment firm Tavis Digital has partnered with Singapore-based Persistence, a bridge for traditional firms into undiscovered realms such as token staking and decentralized finance (DeFi). Tavis Digital is a spin-off of Tavis Capital, an asset manager regulated by the Swiss Financial Market Supervisory Authority (FINMA) with about $1.07 billion in assets under management. Nimble and financially sophisticated countries like Switzerland and…
-
Aptos comes out of nowhere, a new story for public chains in 2022?
Looking at this bullish round of public chain rotation outbreak, the public chain landscape is not yet a foregone conclusion, despite ETH’s first-mover advantage. For example, Solana, which is light on technology and heavy on ecology, uses measures such as introducing liquidity mining, providing subsidies for developers, holding hackathon and providing donation funds to incentivize users to experience their platform, while Polygon, Fantom, Harmony, Avalanche, Celo and NEAR, on the other hand, have taken a different approach and launched incentive programs one after another thus promoting their ecological prosperity. Whether…
-
Longbow Capital led a $5 million funding round for Modern, a Canadian blockchain project.
Modern, a distributed mobile network transmission protocol based on blockchain +5G, has announced the start of its financing plan, according to the company’s official announcement. Longbow Capital, a Canadian private equity firm, will lead the financing, which is expected to raise $5 million, according to a number of leaks. Longbow Capital is a private equity investment management firm that invests in the energy and technology sector. It focuses on companies that help bring energy to the world in the most efficient, cost effective and environmentally responsible way. The company was…
-
META WARRIOR–upcoming P2E trading card game with upgraded NFT’s + Staking.
Introduction META WARRIOR is an upcoming Play-to-earn game of the addictive battle Genre. It is built on Binance Smart Chain(BSC ) Our team is dedicated to create an NFT pay-to-earn game which will allow you to enjoy a new and different video game, also giving you the opportunity to earn money. After study the benefit of both BSC and gamefi, we decided to create this Meta warrior token. It brings in the benefit of both smart chains. Our main ambition is to build a superior NFT ecosystem in the blockchain space offering…
-
Behold, the journey of SmallDogCoin dominance is beginning.
The most hype discussion recently in Crypto(maybe even beyond crypto ) is not Btc reaching $60k or $2500 Eth, but Dogecoin which was abandoned by the founder, but went crazy on Reddit with over 1 million active users. Dogecoin as the synonymous to“pathway to financial freedom”went up hundreds times within months and hit record daily rise of 150% shocked everyone that read news. This was the use-to-be crypto market and draws many Bitcoin holder to switch position to Dogecoin. It is hard to imagin crypto without hard cap could…
