CEO of Galaxy Digital Asset Management Michael Novogratzhas implied that the company plans to launch a new Bitcoin fund. He said that it will take care of pricing and allow people to invest without setting up a Coinbase account.
Galaxy is supposed to launch two Bitcoin funds before the end of November. Galaxy Bitcoin Fund will be the first with a required minimum of $25,000 for investment. The second with higher minimums will be Galaxy Institutional Bitcoin Fund.
The Financial Industry Regulatory Authority provided approval to Galaxy Digital to underwrite registered public offerings. The company wants to facilitate offerings with security tokens. Novogratz believes this would be a good service to add to what Galaxy currently offers. He wants to see Bitcoin make a big move.