Novogratz Says Some Institutions Are Coming Back to Crypto

Michael Novogratz said he sees signs of increased participation in cryptocurrency markets by more traditional institutional investors in the wake of the turmoil in the digital-asset world last year.

“Institutions have come back some in the immediate term. They’ve come back in futures. They’ve come back in some of these stocks. But importantly, they’re coming back in structural ways,” Novogratz, the founder and chief executive officer of Galaxy Digital Holdings Ltd., said on the New York-based company’s second-quarter earnings conference call Tuesday.