Mike Novogratz’s Galaxy and Sharplink Launch $125M Ethereum-Powered DeFi Yield Fund

Mike Novogratz’s digital asset firm Galaxy Digital and ETH treasury company Sharplink announced a non-binding memorandum of understanding to form the Galaxy Sharplink Onchain Yield Fund. This new private investment vehicle will focus on DeFi liquidity protocols and other on-chain yield-generating strategies. $125M Institutional Yield Fund According to the official press release, Galaxy will act as the fund’s investment manager. The fund is expected to launch in the coming weeks with total commitments of $125 million. This includes $100 million from Sharplink’s staked Ethereum treasury and $25 million from Galaxy. The strategy will focus on identifying high-yield opportunities across blockchain-based financial markets by allocating capital to selected on-chain applications. The structure is intended to allow Sharplink to maintain its Ethereum exposure while also generating returns from actively managed on-chain strategies. Galaxy revealed that protocol selection, exposure sizing, and ongoing monitoring will be handled under its institutional research and risk management framework, which is also used across its lending, trading, and asset management operations. The company added that it has been deploying hundreds of millions of dollars into on-chain strategies since 2020 and is among the largest publicly traded firms actively allocating capital to decentralized finance and other blockchain-based investment opportunities. Novogratz, Founder and CEO of Galaxy, stated, “Institutional capital is moving onchain, and the infrastructure to support it has matured to a point where allocators can access yield, liquidity, and risk management with the same rigor they expect in traditional markets. Sharplink has built one of the most significant Ethereum treasuries among public companies, and we’re proud to partner with them to put that capital to work in a strategy designed to compound their core position.” Meanwhile, Matthew Sheffield, Sharplink’s Chief Investment Officer, s...