Galaxy Asset Management, an affiliate of Galaxy Digital Holdings Ltd. (TSX: GLXY) and one of the world’s largest investment managers of digital assets and blockchain exposures, and State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), announced the introduction of three actively managed digital asset and disruptive technology focused ETFs sub-advised by Galaxy Asset Management.
The SPDR Galaxy Digital Asset Ecosystem ETF (DECO), SPDR Galaxy Hedged Digital Asset Ecosystem ETF (HECO) and SPDR Galaxy Transformative Tech Accelerators ETF (TEKX) seek to bring active management “to digital asset exposures to capitalize on market inefficiencies and evolving trends in a rapidly changing digital landscape.”
As noted in the update:
“We believe an active approach to digital asset investing is essential in order to fully capture the potential of this rapidly changing technology. An active manager can help gain exposure to cryptocurrencies as well as firms at the forefront of this transformational technological change, all the while managing the volatility profile of the strategy based on market trends.”
With the future of digital assets embodying cryptocurrencies, tokens and the companies that operate in the blockchain and surrounding ecosystem, “such as semi-conductors, data warehouses and miners, we are introducing three actively managed funds that will focus on these markets:”
The SPDR® Galaxy Digital Asset Ecosystem ETF (DECO) seeks “to provide long-term capital appreciation through an actively managed portfolio of companies that are well positioned to benefit from the growing adoption of the blockchain and digital asset industries, as well as cryptocurrency exposures through ETFs and futures. DECO is designed to help investors pursue potential growth from further adoption of digital assets.”
The SPDR Galaxy Hedged Digital Asset Ecosystem ETF (HECO) seeks to “provide long-term capital appreciation through an actively managed portfolio of companies that are well positioned to benefit from the growing adoption of the blockchain and digital asset industries as well as cryptocurrency exposures through ETFs and futures.”
HECO is designed to manage volatility through the incorporation of covered call options and protective put options on investments held in the portfolio.
The SPDR Galaxy Transformative Tech Accelerators ETF (TEKX) seeks to “provide long-term capital appreciation to investors through an actively managed portfolio of companies within the value chain supporting new disruptive technologies, which include but are not limited to blockchain and artificial intelligence (AI).”
TEKX is designed to help investors pursue “a potential long-term secular growth opportunity driven by the potential economic benefits from new innovations.”
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