Galaxy to launch $100M hedge fund to bet on rising, falling crypto prices

Galaxy plans to deploy a new hedge fund strategy that targets both crypto tokens and traditional financial stocks as the “up-only” phase fades.

Mike Novogratz’s digital asset company Galaxy is preparing to launch a $100 million hedge fund aimed at profiting from both rising and falling crypto prices.

The fund is set to launch in the first quarter and will be structured to take long and short positions across digital assets and traditional equities tied to financial infrastructure, the Financial Times reported on Wednesday.

Up to 30% of the fund’s capital will be allocated directly to crypto tokens, with the remainder deployed into financial services stocks expected to be influenced by digital asset regulation, blockchain adoption and technological change, per the report.

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