Galaxy Asset Management, State Street Global Advisors to Introduce Investors to “Next Evolution” of Digital Asset Investing

Galaxy Asset Management, an affiliate of Galaxy Digital Holdings Ltd. (TSX: GLXY) and one of the “largest” digital assets and blockchain investment managers, and State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), announced they are collaborating to bring investors the next generation of digital asset based strategies that will offer exposure to companies involved in the digital asset space, going beyond cryptocurrencies and bitcoin.

This collaboration of global asset managers “is designed to bring investors the newest innovation in digital asset investing.”

By combining the strengths of two of the biggest brands and first-movers, State Street Global Advisors and Galaxy Asset Management will “provide investors access to the $2.4 trillion digital asset ecosystem through manager-directed strategies.”

Anna Paglia, Chief Business Officer at State Street Global Advisors said:

“We believe that the digital assets landscape is so much more than the single crypto components and that crypto native companies are best equipped to understand that ecosystem and its correlation with financial markets. We are pleased to be working with Galaxy to educate investors about the role digital assets can play in a diversified portfolio, and provide the opportunity to participate in the next level of growth and innovation for the digital asset ecosystem,” she added.

Institutional and retail interest in digital assets has “surged since the introduction of spot bitcoin ETFs. However, investors are also seeking exposure to this growing asset class through investment options beyond pure spot bitcoin.”

They believe this is where the next level of growth is for the digital asset ecosystem.

Steve Kurz, Global Head of Asset Management at Galaxy said:

“Since Galaxy was founded, active management across the full ecosystem of digital assets and crypto companies has been a core competency. By partnering with State Street Global Advisors and utilizing our combined expertise, we believe we are in a strong position to make digital assets more accessible to the broader investment community through the creation of new ETFs offering exposure to digital assets.”

The expectation is that State Street Bank and Trust would “provide administrative and accounting services for the new digital assets ETFs that State Street Global Advisors and Galaxy jointly develop pursuant to this collaboration.”

Since 2018, Galaxy Asset Management has been dedicated “to offering institutional-grade access to the digital assets ecosystem. GAM is staffed by a team of seasoned professionals who adopt a conservative, fiduciary-first approach in all aspects of the business.”

GAM oversees $6.2 billion in assets “across passive, venture, and active strategies. GAM is an affiliate of Galaxy Digital Holdings Ltd., a digital asset and blockchain leader providing access to the growing digital economy.”

The company is headquartered in New York City, with global offices “across North America, Europe, and Asia.”

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