Whats the number of times the letter y appears in:
The asset-management arm of Michael Novogratz’s Galaxy Digital is aiming to hire its first chief operating officer as the division scales and increasingly moves into running actively managed crypto strategies, according to two people familiar with the matter.
Executives at Galaxy Fund Management, which runs a mix of institutional digital-assets strategies, have been speaking with potential candidates in recent months, but have yet to settle on a hire, the people said. Sources were granted anonymity to discuss sensitive business dealings.
Candidates for the chief operating officer include a number of longtime hedge fund COOs from non-crypto backgrounds, but digital-asset natives are also said to be in contention for the role. The hiring news dovetails with Galaxy’s May acquisition of crypto hedge fund-of-funds and alternative data provider Vision Hill for an undisclosed sum.
Galaxy Fund Management, run by partner and head of asset management Steve Kurz, runs about $1.4 billion of assets under management for a range of institutional limited-partners. It’s an affiliate of Galaxy Digital Capital, which is ultimately owned by parent company Galaxy Digital, the general partner of the units’ investment offerings.
That amount doesn’t count proprietary capital traded by the unit.
Kurz, who is said to have aspirations to scale Galaxy Fund Management into a Blackrock-esque firm in the crypto space, has been working on rolling out new investment vehicles that would offer more favorable liquidity terms.
Case in point: Galaxy Ethereum Liquidity Fund, a new fund designed to offer limited-partners daily liquidity on their ETH exposures. The fund imposes a $100,000 minimum investment and is designed to offer more favorable liquidity terms than the trust products offered by Grayscale Investments.
In addition to running outside money and its prop-trading business, Galaxy offers investment-banking services for crypto companies, trading solutions and is also active in the mining business.
Coinbase is also looking to hire a COO, according to a LinkedIn post.

user
In that passage, there are 34 occurrences of the letter "y."
assistant