What would be the velocity depending on $t$, the co-ordinate time[?]
A free fall from infinity takes an infinite time. To define the velocity dependence on time, you can drop an object from a finite distance $R$ and start your clock $t$ at that moment.
A free fall to a Schwarzschild black hole from rest at a distance $R$ is given by the radial geodesic in geometrized units ($c=1$, $G=1$):
$$ t(r)=\sqrt{\dfrac{R}{2M}-1}\cdot\left(\left(\dfrac{R}{2}+2M\right)\cdot\arccos\left(\dfrac{2r}{R}-1\right)+\dfrac{R}{2}\sin\left(\arccos\left(\dfrac{2r}{R}-1\right)\right)\right)+ $$
$$ +\, 2M\ln\left(\left|\dfrac{\sqrt{\dfrac{R}{2M}-1}+\tan\left(\dfrac{1}{2}\arccos\left(\dfrac{2r}{R}-1\right)\right)}{\sqrt{\dfrac{R}{2M}-1}-\tan\left(\dfrac{1}{2}\arccos\left(\dfrac{2r}{R}-1\right)\right)}\right|\right) $$
You can figure the coordinate velocity outside the horizon by differentiating this equation by $r$:
$$ v=-\dfrac{dr}{dt}=-\dfrac{1}{\dfrac{dt}{dr}} $$
Then for any $r$ you would know both the velocity $v$ and coordinate time $t$ to define the (non-explicit) dependence of velocity on time.
EDIT:
The following chart shows the speed $V$ of a free falling object as measured by hypothetical stationary observers hovering at the radius $r$ (where $\dfrac{dr}{dt}$ is from above and the expression in parenthesis is due to the hovering coordinates):
$$ V=-\dfrac{dr}{dt}\,(1-\dfrac{2M}{r})^{-1} $$
You can see that the speed $V$ of any free falling object always approaches the speed of light ($c=1$) at the horizon $r=2M$ regardless of the initial speed or at what distance the fall starts:
