Galaxy Digital Holdings Ltd. (TSX: GLXY), a financial services and investment management innovator in the digital asset and blockchain technology sector, and DWS, which claims to be one of the world’s leading asset managers, have entered into a strategic alliance with the aim of initially “developing a comprehensive suite exchange-traded products (ETPs) on certain digital assets in Europe.”
The strategic allies plan “to also subsequently explore other digital asset solutions.”
As the digital asset market continues to mature, Galaxy’s asset management unit and DWS will work together “to provide European investors access to the USD ~1 trillion digital assets market through cost-effective investment solutions that are easy to access via traditional brokerage accounts.”
This alliance is expected “to significantly enhance Galaxy’s international distribution capabilities by deepening access to European investors who are keen to participate in the digital assets market.”
For DWS, this alliance “fulfills a key priority to develop comprehensive digital solutions, unlocking investor access to the ever-growing blockchain and digital assets universe.”
DWS will “be Galaxy’s exclusive ally for cryptocurrencies ETPs in the European market.”
Steve Kurz, Global Head of Asset Management at Galaxy, said:
“Galaxy’s mission is to empower investors across the globe with simple and secure access to the digital asset ecosystem, through best-in-class education and institutional-grade products. By allying with DWS, one of the most successful and innovative asset management firms in the world, we are excited to enhance our ability to deliver comprehensive solutions to European investors, empowering them to tap into the vast potential and promise of blockchain technology and digital assets in a safe and convenient manner.”
Fiona Bassett, Global Head of Systematic Investment Solutions at DWS, said:
“This alliance brings together two firms with unparalleled collective experience in building and pioneering innovative investment solutions across both traditional and digital asset markets.As we see increasing client interest in digital assets and the need for secure access, our shared education-first approach and commitment to providing clients with access via well-known and trusted investment vehicles will enable us to build thoughtfully constructed and thoroughly researched products. We look forward to working with Galaxy to further accelerate international adoption of the digital asset economy.”
The alliance is “expected to combine DWS’s strong portfolio management, product structuring, and distribution expertise across liquid and illiquid asset classes with Galaxy’s technical infrastructure and its asset management and research capabilities for digital assets.”
The alliance aims “to be a catalyst for both firms to jointly profit from emerging digital asset opportunities.”
Bringing together the benefits of a diversified platform and deep asset-class expertise across traditional and digital asset markets, Galaxy’s asset management unit “develops and manages a broad range of passive, active, and venture strategies consisting of over USD 2 billion in assets under management.”
Galaxy’s asset management arm “works with investors around the world, including through trusted, established regional partners such as DWS in Europe and others in Canada and Latin America.”