Today, in cryptocurrency, Galaxy Digital has raised $175 million for the first externally backed venture fund, targeting early-stage crypto startups. Invesco became the ninth bidder for the on-site Solana Exchange Fund (ETF) and will soon be able to evaluate certain home loans in cryptocurrencies.
Galaxy Digital raises $175 million in first fund to expand cryptocurrency investment
Galaxy Digital owns Closed $175 million in venture capital fundThis is the first time external capital is being used as the company has stepped up plans to invest in early-stage crypto startups.
The fund surpassed its $150 million target, marking the first time Galaxy has accepted external capital. So far, the company has relied solely on its own balance sheet to make venture capital investments, according to Press release to Thursday.
The fund targets high-growth areas such as Stablecoins, Sigkenization and Depay, as well as the software layers that support them.
“We are seeing accelerated adoption of various institutional and retail users worldwide, especially near use cases such as payments, capital markets and financial services,” commented Mike Giampapa, general partner.
Founder and CEO Mike Novogratz said the company was able to shut down its first venture fund during one of the toughest times for crypto fundraising.
He added: “With deep roots in Onchain Market and blockchain infrastructure, we are committed to supporting founders and startups to build real-world use cases that shape the adoption of the next chapter.”
Invesco becomes 9th bidder for Spot Solana ETF
Asset Manager Invesco has joined the ninth company and hopes to launch the spot Solana (Sol) exchange fund, Submit a registration statement to the regulator On Wednesday, it will join Galaxy Digital for the Invesco Galaxy Solana ETF.
The fund will hold Solana directly and is intended to track its price and, if approved, will be traded on the CBOE BZX exchange under the stock “QSOL”. The file says it can also “store a portion of Sol from time to time”.
Invesco and Galaxy will need to submit Form 19B-4, which proposes rule changes to the SEC so that the agency can begin considering the process of approving ETFs.
It joins Coinshares, Vaneck, Bitwise, Grayscale, 21shares, Canary Capital, Franklin Templeton and Fidelity Investments in an effort to launch the Solana ETF, and analysts say there is a 90% chance of approval that can be approved next month, ahead of the regulatory deadline on October 10.
U.S. housing mortgage regulators to identify crypto assets in risk assessment
US mortgage buyers Fannie Mae and Freddy McKe Will consider cryptocurrencies as assets In their risk assessment of single-family home loans, this marks an important step forward in digital assets under the administration of U.S. President Donald Trump.
The directive was conducted by William J. Pat, director of the Federal Housing and Finance Agency (FHFA).
The decision means that cryptocurrencies will be regarded as reserve assets for household lenders, without having to convert those assets into US dollars as before. FHFA has overseen Fannie Mae and Freddie Mac since 2008, when both institutions were placed under government protection after the financial crisis.
Pat says Decisions include cryptocurrencies As part of the mortgage risk assessment, “after significant research” and aligned with Trump’s goals to make the United States the United States Global crypto capital.
Since the subprime mortgage crisis, Fannie Mae and Freddie Mac have played a key role in the U.S. housing market, providing liquidity and stability by purchasing mortgages from lenders, which allows lenders to issue more loans.
