Home > Asset Manager Galaxy Digital to launch a Solana fund soon

Asset Manager Galaxy Digital to launch a Solana fund soon

Solana remains one of the leading cryptocurrencies in the world, and it is now becoming more available to institutional investors.

Galaxy Digital announced earlier today that it would launch a Solana fund soon. The fund will be available to institutional investors soon, allowing them to gain access to the native token of the high-speed blockchain.

Galaxy Digital is one of the leading asset managers in the cryptocurrency space. The asset management firm makes it easy for institutional investors to gain exposure to a wide range of cryptocurrency assets.

The firm has also invested in numerous cryptocurrency projects over the past few years, including some of the leading crypto exchanges and wallet service providers. Galaxy and Bloomberg set the tone for the launch of the Solana Fund.

Last month, Bloomberg and Galaxy Digital launched a Solana index. The Solana Fund will now track the performance of the Solana Index in a bid to provide institutional investors exposure to the cryptocurrency.

According to Galaxy Digital’s website, interested investors must pitch a minimum of $25,000 to gain access to the new fund. Leading crypto exchange Coinbase has been assigned as the custodian of the fund.

Galaxy Digital currently has more than $3 billion in assets under management. The asset manager controls 20 funds, including those that track the performance of the leading cryptocurrencies such as Bitcoin and Ether.

Solana has been one of the best performing cryptocurrencies so far this year. The cryptocurrency has recorded massive growth over the past few months. However, the coin has underperformed similar to the broader cryptocurrency market.

At press time, SOL is trading at $170 per coin, down by more than 30% from the all-time high of over $200 it achieved a few weeks ago. SOL is up by more than 11% over the past 24 hours.

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