Galaxy plans to debut $100M hedge fund amid market pullback
Galaxy is launching a $100 million long-short hedge fund to capitalize on crypto volatility and related financial tech stocks.Summary
Galaxy, the digital assets firm led by Mike Novogratz, intends to launch a $100 million hedge fund in the first quarter, designed to profit from volatility in both cryptocurrency tokens and traditional financial services companies tied to digital assets. The 'long-short' fund will be seeded with capital from family offices, high-net-worth individuals, and institutions, with up to 30% of its assets allocated to crypto tokens, and the rest invested in stocks related to digital asset regulation and technology. This move comes despite a recent steep Bitcoin pullback, as Galaxy executives maintain a bullish outlook on major crypto assets and see opportunities in regulatory changes, AI, and digital asset-driven transformation.
(Source：Crypto Briefing)