Cryptocurrencies
Novogratz Positions Firm at Center of Hoped-for Crypto ETF Boom
- Galaxy among the trading desks providing Bitcoin to first ETF
- Firm will act as sub-advisor on proposed CI Galaxy Bitcoin ETF
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Mike Novogratz is seeking to position his Galaxy Digital Holdings at the center of what could turn out to be a boom in cryptocurrency exchange-traded funds.
Galaxy’s trading desk is one of several that are providing Bitcoins for the Purpose Bitcoin ETF, the first-ever approved. The Toronto Stock Exchange-listed fund debuted Thursday. CI Global Asset Management filed this week in Canada to offer the CI Galaxy Bitcoin ETF. Galaxy Digital will act as the Bitcoin sub-advisor, and execute trades on behalf of the proposed ETF. None have been approved in the U.S.