%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Galaxy Digital (TSX: $GLXY ) says it plans to launch a $100 million U.S. hedge fund that's focused on cryptocurrencies. Galaxy Digital is the asset investment firm led by investor Mike Novogratz. The company's new hedge fund will also reportedly focus on the financial technology (fintech) sector. The fund, which is expected to launch in this year's first quarter, will take both long and short positions, meaning it will try and make money when prices rise and fall. About 30% of the capital will be allocated to cryptocurrencies such as Bitcoin (CRYPTO: $BTC ) and Ethereum (CRYPTO: $ETH ). The rest will target financial services stocks, according to media reports. Galaxy Digital has secured backing for the new hedge fund from family offices, high-net-worth individuals and institutions. The crypto firm has said that it made over $500 million U.S. in profits during the third quarter of 2025 due to volatility in the crypto market. In the past, well-known crypto investor Mike Novogratz has said that he initially conceived of Galaxy Digital as a hedge fund. The company currently oversees $17 billion U.S. of assets. The stock Galaxy Digital, which trades in Toronto, has risen 42% over the last 12 months to Cdn$44.40 per share.