The internet is broken

Apps and data are bundled

Apps and data are bundled

Tech conglomerates manage centralized silos of data that mine, sell, monopolize, and potentially abuse user data and access. Bundling applications and data also lands Big Tech between a rock and a hard place, forcing tech conglomerates to be both moderators and curators for content on the internet.

Centralization and security issuesCentralization and security issues

Centralization and security issues

Centralization allows for a single point of failure and creates a clear target for hackers. Consider, for example, the recent hacks into Equifax and Target.

Closed applications

Closed applications

Closed applications do not incentivize open-source development and hinder natural market competition. The next iteration of the internet is a collection of open, public APIs. Open-source code allows users to compose modular programs to create a superset of functionality.

Ethereum is the answer

The universal state
Value-additive properties
The universal state

The universal state

Position a “state layer” on the Web in the hands of users, rather than corporate silos.

Blockchain validators collect, verify, and secure data and web-based interactions.

Conceptually, a single Web-based layer of trust.

Value-additive properties

Value-additive properties

No single point of failure.

Users own their data and can monetize at discretion.

Open systems encourage innovation.

Ethereum usage is on the rise

One of the most popular measures of DeFi’s progress is Total Value Locked (TVL), the amount of assets that are currently  being staked in DeFi protocols. While DeFi has made incredible strides within the last year, it is still in the early innings.

$120 B
$100 B
$80 B
$60 B
$40 B
$20 B
$-
ETH GrowthETH Growth
JAN 20
MAR 21
MAY 21
JUL 21
SEP 21
NOV 21
JAN 21

Source: DeFi Pulse

Apps built on Ethereum

Ethereum’s general programmability moves beyond the simple sending of value – we can embed logic around the digitized value.

Crypto protocol
public tech company

Annualized revenue of protocols vs. select recently-public tech companies (30D vs. quarterly annualized)

Uniswap
$2.3b
Z Scaler
$673.10M
Snowflake
$592.05M
Sushiswap
$516.73M
Aave
$438.72M
Compound
$306.19M
Asana
$227m
Maker
$136.62M
Agora
$133.56m
Lemonade
$94M
Curve
$41.80M
Synthetix
$17.98M
Balancer
$8.74M

1) Source: Yahoo Finance and The Block. Figures as of 10/31/2021.

Galaxy Ethereum Funds

The Galaxy Ethereum Funds (the “Funds”) are private funds designed to provide institutional-quality exposure to Ether. The Funds invest directly in Ether and are priced based on the Bloomberg Galaxy Ethereum Index (“ETH”), a pricing source administered and calculated by Bloomberg. The Funds seek to mitigate the complexities of investing in digital assets by providing investors with outsourced trading, operations, finance, and custody/digital asset private key protection services.

01

Direct institutional-quality exposure

The Galaxy Ethereum Funds (the “Funds”) are a private funds designed to provide institutional-quality exposure to ETH.

02

Execution and pricing transparency

The Funds invest directly in Ether and prices are based on the Bloomberg Galaxy Ethereum Index, an ETH pricing source administered and calculated by Bloomberg.

03

Operational ease

We maintain relationships across numerous exchanges and OTC counterparties.

04

Custody

We partner with Fidelity Digital Assets.

05

Structured reporting

We provide familiar reporting: audited financial statements, tax reporting (e.g., K1, PFIC), periodic NAV reporting, etc.

Fund information

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Eligibility Requirements

Accredited Investor - You are accredited as an individual if you made over $200,000 in the last two calendar years (or $300,000 with your spouse), or if you have greater than $1,000,000 in liquid net worth, excluding your primary residence.

MINIMUM INVESTMENT

$25,000

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