Galaxy Digital Plans to Launch a $100 Million Hedge Fund in Q1, Reports Say

As reported by the Financial Times on January 22, Galaxy Digital, led by CEO Michael Novogratz, is planning to launch a $100 million hedge fund in the first quarter.

The new fund will allocate up to 30% of its assets to cryptocurrencies, with the remaining 70% being invested in stocks related to traditional financial services.

According to the report, the fund has received commitments of $100 million from family offices, affluent individuals, and some institutional investors. Galaxy has confirmed that it is providing seed investment for the fund, though the amount has not been disclosed.

The fund manager Joe...