Galaxy Digital, Mike Novogratz’s cryptocurrency merchant bank, announced the acquisition of Vision Hill Group, a New York-based firm.
The firm positions itself as a leading investment adviser, an asset manager in digital assets, and a developer of market analytics solutions.
Vision Hill will become part of the Galaxy Fund Management division. The deal amount was not disclosed.
“Galaxy Fund Management rapidly expands its capabilities in order to ultimately provide institutional-grade access to all corners of digital assets, so that organisations can easily participate in this fast-developing sector,” said Steve Kurz, a partner and head of asset management at Galaxy Digital.
Earlier, the crypto bank agreed to acquire BitGo, a custody-services provider, for about $1.2 billion in stock and cash.
In February 2021, Galaxy Digital announced the launch of a new research division and a 40% increase in staff. Previously, the company opened a Bitcoin mining division.
Earlier, on 19 May, shares of Mike Novogratz’s bank fell 11% amid a market rout.