Galaxy Digital, a cryptocurrency finance company, announced that it has expanded its field of work. The cryptocurrency trading company founded by Novogratz will expand its cryptocurrency offers within Canada in this context.
Galaxy Digital, founded by businessman and cryptocurrency investor Mike Novogratz, has been announced to take a step towards growing cryptocurrency activities. In a news shared on November 16, it was shared that the company decided to offer crypto money service in Canada, and it was learned that a public Bitcoin (BTC) fund will be established in the country in line with this decision.
Galaxy Digital launches partnership with Canadian investment firm
According to the report, Galaxy Digital has started a partnership with the major Canadian investment company CI Global Asset Management (GAM) as part of the efforts to establish a public Bitcoin fund. It was learned that within the scope of the partnership, a “closed-end investment fund” will be activated to facilitate the participants’ relationship with Bitcoin.
In the past, Galaxy Digital has continued to offer various solutions in this field by implementing the Galaxy Bitcoin Fund and Galaxy Institutional Bitcoin Fund. With the CI Galaxy Bitcoin Fund established after the partnership in Canada, the company will invest directly in Bitcoin based on Bloomberg Galaxy Bitcoin Index prices.
Apart from that, it has been announced that as part of the new initiative, CI GAM has filled in a receipt for the initial public offering of the CI Galaxy Bitcoin Fund. Under the fund, various units will be offered for a price of $ 10 each. CI GAM will be responsible for the management of the Bitcoin fund, while Galaxy Digital will carry out all Bitcoin trading on behalf of the fund.
Approximately $ 270 million worth of Bitcoin
In addition to providing solutions for cryptocurrency transactions, Galaxy Digital also has a very rich Bitcoin accumulation. Months ago, according to the data shared by a website, it was shared that there were 17 thousand Bitcoins in the company account. According to CoinGecko data, this amount is currently approximately $ 270 million.