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Galaxy Digital on Wednesday said it will launch a crypto fund for Solana, the high-speed blockchain whose native token SOL has soared in value this year.<\/p>\n

The crypto conglomerate said Galaxy Solana Funds will target \u201cinstitutional investors.\u201d Its release trails two weeks behind Grayscale\u2019s announcement<\/a> that it plans to do the same. Grayscale is a sister company of CoinDesk through parent DCG.<\/p>\n

Galaxy and Bloomberg set the stage for this fund\u2019s launch with their creation of a Solana index<\/a> one month ago. Indeed, the new fund seeks to track the performance of that index, the companies said.<\/p>\n

Investors must pitch a minimum of $25,000, according to Galaxy\u2019s website. It said Coinbase will custody the coins.<\/p>\n

Galaxy Fund Management handled $3.4 billion in assets across over 20 funds as of Nov. 30. Bitcoin (BTC) and ether (ETH) are the only other assets with single-token funds, making SOL the third with that distinction.<\/p>\n

Read more: <\/b><\/i>Solana Hits Bloomberg Terminal With Galaxy-Backed Index<\/b><\/i><\/a><\/p>\n

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