Galaxy Asset Management, a digital asset investment leader affiliated with Galaxy Digital, announced a collaboration with State Street Global Advisors, the world’s third largest ETF issuer. The partnership focuses on developing “next generation” investment strategies to provide investors exposure to the $2.4 trillion digital asset ecosystem.
Galaxy Asset Management, a digital asset investment leader affiliated with Galaxy Digital, announced a collaboration with State Street Global Advisors, the world’s third largest ETF issuer. The partnership focuses on developing “next generation” investment strategies to provide investors exposure to the $2.4 trillion digital asset ecosystem.
Gamza KhanzadaevMike NovogratzCEO of Galaxy Digital, expressed his support for the collaboration and highlighted the potential of unlocking the digital asset ecosystem for investors through professionally managed strategies.
In his view, this partnership signals a potential shift within the financial industry, as established institutions like State Street recognize the growth prospects of the digital asset space beyond Bitcoin.
The measure is really significant. SSGA, with $3.7 trillion in assets under management, is a major player on the financial landscape, although overshadowed by industry leaders BlackRock, with a staggering $10 trillion, or Vanguard, with a portfolio of around 8 billion dollars.
Alex DovbnyaIndustry analysts such as ETF Store’s Nate Geraci, while acknowledging the importance of the partnership, point out the absence of spot Bitcoin and Ethereum ETFs in the initial plans. This suggests a cautious approach by SSGA, opting for select investment vehicles rather than direct cryptocurrency holdings.
Overall, Galaxy Digital, led by Novogratz, sees this collaboration as a bridge for investors to enter the broader digital asset ecosystem, which could spur further growth in the sector. The involvement of State Street, with its vast experience and resources, adds significant credibility to this initiative.
Alex DovbnyaWhile specific investment strategies have not yet been announced, this partnership marks another important step towards widespread adoption of digital assets.
