Galaxy Digital Buys $250 Million Bitcoin

Mike Novogratz’s Galaxy Digital bitcoin funds have invested a combined $250 million according to filings with the Securities and Exchanges Commission.

The Galaxy Bitcoin Fund LP, which has a minimum investment of $25,000, has bought circa $15 million from 106 investors.

The Galaxy Institutional Bitcoin Fund, Ltd., which is aimed at institutional investors with a minimum investment of $100,000, has bought $121 million worth of bitcoin on behalf of 23 investors.

The Galaxy Institutional Bitcoin Fund LP has bought $100 million worth of bitcoin from 55 investors with a minimum investment of $500,000.

So making a combined circa $250 million with the first sale for all these funds being in November 2019.

They’re share traded funds with these filings coming after Morgan Stanley announced plans last month to allow their wealthy investors, in total some $4 trillion such customers for this bank, to invest in bitcoin through the above mentioned funds.

Goldman Sachs also announced just a week ago they plan to allow their wealthy clients to invest in bitcoin, with the suggestion being such investment will initially be indirectly through such funds.

It appears thus this has now been enacted, and so the results are being made public in line with the requirements by the Securities and Exchanges Commission (SEC).

Which means in due course we may see how this quarter of a billion changes as wealthy investors tap into bitcoin through their established banks and investment managers.