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
-
Cutting-edge technologies drive innovation: KHC public chain emerges at the right moment
KHC: redefining finance Traditional financial institutions are called centralized financial institutions. The essence of its business model is to provide value transfer, improve the credit quota and provide insurance service based on credit. This can make capitals flow freely around the world, gather user information, monopolize living sectors including clothing, foods, housing and traveling, and achieve huge benefits. However, traditional financial ecosystem is faced with many serious problems, including black case work, unfair distribution, low benefit ceiling, high threshold, unbalanced regional development, etc. In contrast, DeFi which is decentralized finance,…
04/22/2021 -
Duke University’s Early Coinbase Investment Could Now Be Worth $500M: Sources
The endowment fund of Duke University, the alma mater of Coinbase co-founder Fred Ehrsam, was one of the fortunate few to have made an early investment in the soon-to-list cryptocurrency exchange, CoinDesk has learned. Two people familiar with the matter said the $3.9 billion Duke Endowment was included early on in the cap table of Coinbase, which is expected to command a price tag of around $100 billion when its shares debut on Nasdaq. Those shares are now worth a small fortune, on the order of nine figures, the sources…
Business 03/28/2021 -
IAI Token, Smart Contract Platform for New Era
1. The development of blockchain Blockchain technology is a distributed network data management technology that uses cryptography technology and distributed consensus protocols to ensure network transmission and access security, realizes multi-party data maintenance, cross-validation, consistency across the network, and it is not easy to tamper. As an important evolution of the new generation of information and communication technology, the blockchain provides new ideas for the management and value release of data elements, and provides a new way to establish a trusted collaboration network for cross-industry entities. After the COVID-19 epidemic,…
01/19/2021 -
As soon as he learned he was among the thousands of Ledger customers whose personal information had been published online Sunday, JimboChewdip, as he’s known on Twitter, acted fast. Not fast enough, however.
JCD, as we’ll call him, spent Monday morning changing his passwords, only to get a notification a new device had been added to one of his two-factor authentication (2FA) accounts. He then tried to log into his email. It was locked. “Within minutes I started getting notifications about password changes on Coinbase, Binance, Dropbox,” he later told CoinDesk. “I tried to call T-Mobile over Wi-Fi but it wouldn’t work with the SIM disabled so I reached out to them on Twitter and got someone from Support to lock my account.”…
12/24/2020 -
SporeOcean has completed the institutional round of financing and will start global ITO on April 23
In order to build SporeOcean’s global brand influence and expand its coverage, and build a solid long-term consensus on SporeOcean’s ecology, we plan to launch an ITO event. Users who meet the conditions for participation will have the opportunity to obtain a whitelist and participate in the SporeOcean Ambassador platform proposal governance rights and other rights after submitting through official channels for review and approval. SporeOcean Polkadot’s cross-chain DeFi+NFT operating system announced that it has completed two rounds of institutional angel round and A round financing. The angel round…
04/22/2021 -
Crypto Investor MetaKovan Announced as Buyer of $69.3M Beeple NFT
MetaKovan, the pseudonymous founder of non-fungible token (NFT) fund Metapurse, is the proud owner of the Beeple NFT auctioned by Christie’s on Thursday for $69.3 million. “When you think of high-valued NFTs, this one is going to be pretty hard to beat,” MetaKovan said in a press release issued by the 255-year-old auction house. MetaKovan paid for Beeple’s “Everydays” in ether (ETH, -2.04%), Christie’s confirmed, beating out Tron founder Justin Sun in a last-minute bid. The final sale price was 42,329.453 ETH. Appearing on CoinDesk TV earlier Friday, Beeple (aka Mike Winkelmann) said, “I probably will keep a percentage…
Uncategorized 03/14/2021 -
The Vision of Ethanim: Building New Public Chain for the Metaverse
As the advanced version of the digital era, many metaverse applications using multiple digital technologies are approaching us. Blockchain technology makes digital identity unique and digital asset confirmation also becomes possible. It builds a trustworthy economic form and also accelerates the development of metaverse. In the past six months or so, the metaverse conceptual application represented by crypto games has been noticed. Traditional game developers have introduced digital assets and NFT based on blockchain technology into the game precisely to form a new metaverse conceptual game with unified value and…
01/21/2022 -
BKEX Futures Ambassador Recruitment is up!
1.Introduction of BKEX BKEX Global takes product innovation as the core of its development and is committed to promoting the globalization of cryptocurrencies through a diverse, deep and comprehensive derivatives ecosystem. Currently, BKEX Global holds MSB license issued by FinGEN, a subsidiary of the U.S. Department of the Treasury, and has established the BKEX Sunshine Fund to fully protect users’ assets. More than 70% of BKEX technicians are from Microsoft, Xunlei and other leading platforms in the blockchain field. Currently, BKEX has developed technologies such as multi-signature, offline signature, and…
07/26/2022 -
Bitcoin Steadies Near $54K After Biggest Drop in a Month
Bitcoin stabilized near $54,000 early Tuesday after posting its worst daily loss in almost a month. Bitcoin (BTC) was trading around $54,680 as of 12:50 UTC (8:50 p.m. ET), after falling late Monday to around $53,715, the lowest since March 16. The largest cryptocurrency fell 5.8% over the previous 24 hours, for its largest daily decline since Feb. 23, according to Bitstamp exchange data. Bitcoin’s 24-hour range: $53,795.15-$58,407.62 (CoinDesk 20). BTC’s 4-hour chart shows seller volume has been building alongside a falling price, a bearish signal for market technicians. BTC 4-hour…
03/22/2021 -
Whale Shark’s NFT Collectors Playbook
Thinking about buying some non-fungibles? Maybe you’re even thinking about investing? Maybe you still can’t wrap your brain around the idea of digital art being sold for $69 million, but you’re open-minded, you’ve done your homework and you think the rewards outweigh the risks. And maybe this is money you can afford to lose, so what the hell? [Obligatory disclaimer: Nothing that follows is financial advice. Investing in NFTs – or anything in crypto – is packed with risk and you can lose everything. Proceed with caution.] But if you’re trying to get your…
03/28/2021