Sharplink and Galaxy Digital Launch $125M Onchain Yield Fund
The new fund aims to capitalize on decentralized finance strategies.
Sharplink, Inc. and Galaxy Digital have unveiled the Galaxy Sharplink Onchain Yield Fund, LP, an institutional investment vehicle that will deploy $125 million into onchain yield strategies. The fund marks a significant move in the digital asset space, with $100 million sourced from Sharplink’s staked ETH treasury and $25 million from Galaxy.
Managed by Galaxy Digital, the fund is aimed at institutional investors looking for risk-managed returns in decentralized finance. This launch is seen as a response to the growing interest in active participation in blockchain markets, moving beyond passive asset ownership.
Mike Novogratz, CEO of Galaxy, emphasized the importance of this fund in the evolution of institutional investment, stating that it represents a shift towards active engagement in blockchain-based markets. The fund's structure aims to use Sharplink's significant ETH treasury alongside Galaxy’s experience in digital asset management.
Steve Kurz, Global Co-Head of Digital Assets at Galaxy, noted that the fund deepens their collaboration with Sharplink, which is positioned as a leader in the onchain economy. The partnership is expected to enhance Galaxy’s asset management offerings with this new institutional-grade strategy.
Joseph Chalom, CEO of Sharplink, highlighted the fund as a strategic advancement in their ETH treasury management, aiming to make their assets more productive. He underscored the potential for ETH to serve as a treasury asset that can yield returns for shareholders.
Matthew Sheffield, Chief Investment Officer of Sharplink, pointed out the challenges faced by emerging crypto protocols and how this fund could address the initial funding gap, potentially generating risk-managed returns for investors.
This announcement signifies a growing trend in institutional digital asset strategies and reflects the increasing integration of blockchain technology in traditional finance. As the landscape evolves, funds like these may play a crucial role in shaping the future of investment in digital assets.
This is an independent summary of a press release originally distributed via GlobeNewswire. GAX Online was not paid for this coverage.
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