ETFs
State Street partners with Galaxy, eyes new ETFs beyond Bitcoin — TradingView News
Asset manager State Street Global Advisors has partnered with crypto investment firm Galaxy Digital to launch new exchange-traded funds offering exposure to digital assets.
In separate statements, the two investment firms suggested that these ETFs would expand “beyond” spot Bitcoin. BTCUSD AND F.
“Institutional and retail interest in digital assets has increased since the introduction of Bitcoin spot ETFs. However, investors are also looking to gain exposure to this growing asset class through investment options beyond pure spot bitcoin,” $4.1 trillion asset manager State Street said in a June 26 statement.
“We believe this is where the next level of growth lies for the digital asset ecosystem.”
This comes as State Street proposed a SPDR Galaxy Digital Asset Ecosystem ETF in a June 26 filing with the U.S. securities regulator, which would invest in publicly traded digital asset companies.
This can range from crypto exchanges and mining companies to hardware wallet service providers and crypto-focused venture capital firms in the United States and abroad.
The fund would also look to invest in futures and spot ETF products.
State Street also proposed the SPDR Galaxy Emerging Technology Enablers ETF and the Hedged Digital Asset Ecosystem ETF to the Securities and Exchange Commission.