Led by Mike Novogratz, Galaxy Digital raised $55.1 million in Galaxy Institutional Bitcoin Fund LP and $3.6 million in Galaxy Bitcoin Fund LP over the year since the funds’ inception. The figures are contained in Form D filings with the U.S. Securities and Exchange Commission (SEC).
The threshold for participation by institutional investors in the first fund is $250,000. Since November last year, Galaxy Institutional Bitcoin Fund LP has attracted assets from 33 participants with an average investment of $1.6 million.
The minimum for participation in the second fund is capped at $25,000. During this period, 33 investors became clients of Galaxy Bitcoin Fund LP.
Such funds provide access to the Bitcoin market, entrusting custody and trading of assets to the management company.
Pantera Capital increased the amount raised for its flagship Bitcoin fund by $5 million, bringing the total to $134 million.
Earlier, Grayscale Investments managing director Michael Sonnenshein stated that major investors view bitcoin as a store of value and an inflation hedge.
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