Galaxy Digital, the crypto money investment company founded by Mike Novogratz, announced that it is preparing an ethereum fund. The company will launch its ethereum fund in mid-February.
Galaxy Digital, an investment company with 815 million dollars worth of crypto assets under its management, will enable customers to indirectly invest in eth with its corporate level ethereum fund. The fund will be priced according to the Galaxy Digital Ethereum index provided by Bloomberg. At the same time, it is aimed that customers will easily benefit from many services such as storing their digital assets, transferring them, and protecting their private keys.
Features of the new fund
The statement said that the assets owned by customers who invest in the fund will be stored by the crypto currency exchange Gemini. The minimum investment required for the fund was announced as 25 thousand dollars. A management fee of 1% will be charged for investments over 100 thousand dollars, while a fee of 1.25% will be charged for investments below this amount.
Ethereum is a good investment opportunity
Galaxy Digital said ethereum is a great opportunity to invest and eth is a growth-oriented cryptocurrency. Emphasizing the Eth-based DeFi market, the company stated that decentralized finance applications generate $ 100 million in revenue per year and are valued at over $ 1 billion.
CEO shared ethereum price target
Galaxy Digital CEO Mike Novogratz shared his price prediction as the eth price increased to $ 459 thousand. Billionaire Novogratz said he wants to buy more ethereum, stating that he believes eth will rise to $ 2,600.