Galaxy Digital, via it's affiliate, <a href="https://www.cryptoknowmics.com/crypto/mike-novogratz-bitcoin-will-stabilize-between-10000-and-14000/">Galaxy Digital</a> Capital Management LP, launched two new products; a Bitcoin Fund, and Institutional Bitcoin Fund. 
The Galaxy Bitcoin Fund has quarterly liquidity and requires at least $25,000 minimum investment. Unlike the Bitcoin Fund, the Galaxy Institutional product demands a higher minimum investment, however, with weekly liquidity.
<h2>Bitcoin Funds to Foster Low-fee Exposure</h2>
As per the <a href="https://www.prnewswire.com/news-releases/galaxy-digital-launches-bitcoin-funds-300960254.html">report</a> today, the just-launched funds are passively managed. It is designed to provide the accredited, and institutional investors access to low-fee, bitcoin exposure supported by vetted service providers.
Both products offer institutionally secure third-party custody, client service support, and standard tax documentation, for simplified bitcoin exposure to accredited investors. 
The Head of Asset Management at Galaxy Digital, Steve Kurz said: 
"The Galaxy Bitcoin Funds help accredited investors mitigate the complexities and risks of managing direct bitcoin investments. The funds provide investors bitcoin exposure with institutionally secure third-party custody, best-in-class service providers, and Galaxy's platform support."
The custodians for the funds include Bakkt, a digital assets platform, and Fidelity Digital Assets. Meanwhile, Steve Kurz, together with Portfolio Manager Paul Cappelli, oversees the funds.
The first Galaxy partner on the Bloomberg Galaxy Crypto Index, Bloomberg L.P., is the pricing agent, per the report. Other service providers that support the funds include Deloitte &amp; Touche LLP for audit and EY LLP for tax. Davis Polk &amp; Wardwell LLP also handles the legal counsel.
Mike Novogratz, CEO, and Founder of Galaxy Digital said in the report:
"Galaxy continues to have high conviction in bitcoin and has made significant strides in helping to bring a more institutionalized footprint to the digital asset ecosystem. We believe this effort is an important step forward in fulfilling this mission."
The launch of Galaxy new Funds adds to the company's current offerings. The list includes the Galaxy's ecosystem funds and Galaxy Crypto Index Fund.

Galaxy Digital Launches Bitcoin Funds with Bakkt and Fidelity as Custodians

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.

Galaxy Digital Launches Bitcoin Funds with Bakkt and Fidelity as Custodians

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