Galaxy Digital Bitcoin Funds Returned 17% in Third Quarter

Crypto asset manager Galaxy Digital, led by billionaire investor Mike Novogratz, reported today that its Bitcoin funds have yielded investors 17.3% in returns over the course of Q3, 2020.

According to the company’s “Third Quarter 2020 Financial Results,” its Galaxy Bitcoin Fund, LP, Galaxy Institutional Bitcoin Fund, LP and Galaxy Institutional Bitcoin Fund, Ltd “offer institutional and accredited investors institutionally wrapped bitcoin exposure supported by vetted service providers.”

“The Galaxy Bitcoin Funds track the Bloomberg CFIX pricing of bitcoin (“XBT”), and the XBT returned 17.3% in the third quarter of 2020 and has returned 125.7% on a year to date basis through November 12, 2020,” the asset manager reported.

Simultaneously, the company’s crypto-focused Galaxy Benchmark Crypto Index Fund LP (which tracks Bloomberg Galaxy Crypto Index) returned 32.3% in Q3—or 126.7% on a year-to-date basis.

Galaxy Digital also disclosed that it currently has $407.4 million worth of assets under its management.

As Decrypt reported recently, Galaxy Digital Holdings is among the top seven public companies with the biggest Bitcoin portfolios. And, so far, its investment is paying dividends.