First-moversinassetmanagementseektoservethedigitalassetmarketplaceend-to-end.
StateStreetGlobalAdvisors,theassetmanagementwingofStateStreetCorporation(NYSE:STT),andGalaxyAssetManagement1,anaffiliateofGalaxyDigitalHoldingsLtd.(TSX:GLXY)andoneoftheworld’slargestdigitalassetsandblockchaininvestmentmanagers,arecollaboratingtobringinvestorsthenextgenerationofdigitalassetbasedstrategiesthatwillofferexposuretocompaniesinvolvedinthedigitalassetspace,goingbeyondcryptocurrenciesandbitcoin.Thiscollaborationofmarket-leading,globalassetmanagersisdesignedtobringinvestorsthenewestinnovationindigitalassetinvesting.Bycombiningthestrengthsoftwoofthebiggestbrandsandfirst-moversinassetmanagement,StateStreetGlobalAdvisorsandGalaxyAssetManagementwillprovideinvestorsaccesstothe$2.4trilliondigitalassetecosystemthroughmanager-directedstrategies.“Webelievethatthedigitalassetslandscapeissomuchmorethanthesinglecryptocomponentsandthatcryptonativecompaniesarebestequippedtounderstandthatecosystemanditscorrelationwithfinancialmarkets,”saidAnnaPaglia,ChiefBusinessOfficeratStateStreetGlobalAdvisors.“WearepleasedtobeworkingwithGalaxytoeducateinvestorsabouttheroledigitalassetscanplayinadiversifiedportfolio,andprovidetheopportunitytoparticipateinthenextlevelofgrowthandinnovationforthedigitalassetecosystem,”sheadded.InstitutionalandretailinterestindigitalassetshassurgedsincetheintroductionofspotbitcoinETFs.However,investorsarealsoseekingexposuretothisgrowingassetclassthroughinvestmentoptionsbeyondpurespotbitcoin.Webelievethisiswherethenextlevelofgrowthisforthedigitalassetecosystem.“SinceGalaxywasfounded,activemanagementacrossthefullecosystemofdigitalassetsandcryptocompanieshasbeenacorecompetency,”saidSteveKurz,GlobalHeadofAssetManagementatGalaxy.“BypartneringwithStateStreetGlobalAdvisorsandutilizingourcombinedexpertise,webelieveweareinastrongpositiontomakedigitalassetsmoreaccessibletothebroaderinvestmentcommunitythroughthecreationofnewETFsofferingexposuretodigitalassets.”TheexpectationisthatStateStreetBankandTrustwouldprovideadministrativeandaccountingservicesforthenewdigitalassetsETFsthatStateStreetGlobalAdvisorsandGalaxyjointlydeveloppursuanttothiscollaboration.AboutStateStreetBankandTrust’sServicingofDigitalAssetsETFsStateStreetBankandTrust(StateStreet)hasbeenactivelyfocusedonthedigitalassetspaceforseveralyears,includingcreatingitsDigitaldivisiontodeliveradigitalexpertiseandsolutionstoclientsinaseamlessinteroperablecustomerexperience.ThefirmhasprioritizeddigitalfinanceandfurtherdevelopingStateStreet’sdigitalassetcapabilitiesacrossFundAccountingandAdministration,TokenisationandDigitalCustodybyadoptingdistributedledgertechnology.Currently,StateStreetprovidesfundadministrationandaccountingservicestoanumberofportfoliosthathousedigitalassets.Mostrecently,StateStreetbeganprovidingservicesforthreeofthefirstSpotBitcoinETFslaunchedintheUSthatintegratedourservicemodelwiththreedigitalcustodians,actingasissuingandpayingagentandadministrationagentfortwonewEuropeanETCs,andprovidingfundadministrationandcashcustodyservicesforAustralia’sinauguralBitcoinexchange-tradedfund.StateStreetisproudtohavebeenthefirstglobaladministratortoservicedigitalassetETFsintheAsia-Pacific,Canada,EuropeandUSmarketplaces,andremainscommittedtostayingattheforefrontoffinancialservicesinnovation.AboutStateStreetGlobalAdvisorsStateStreetGlobalAdvisorslaunchedthefirstlistedETFintheU.S.ins1993andhassincebecomeoneofthelargestglobalETFproviders,managingover$4.3trillioninassets†.Withmorethan30yearsofexperienceinleveragingtheETFstructuretodemocratize,diversify,anddrivethegrowthofamultitrillion-dollarglobalmarket,StateStreetGlobalAdvisorshasconsistentlydevelopedinnovativesolutionstomeettheevolvingobjectivesofinvestors.AboutGalaxyAssetManagementSince2018,GalaxyAssetManagement(GAM)hasbeendedicatedtoofferinginstitutional-gradeaccesstothedigitalassetsecosystem.GAMisstaffedbyateamofseasonedprofessionalswhoadoptaconservative,fiduciary-firstapproachinallaspectsofthebusiness.GAMoversees$6.2billioninassets2acrosspassive,venture,andactivestrategies.GAMisanaffiliateofGalaxyDigitalHoldingsLtd.,adigitalassetandblockchainleaderprovidingaccesstothegrowingdigitaleconomy.ThecompanyisheadquarteredinNewYorkCity,withglobalofficesacrossNorthAmerica,Europe,andAsia.AdditionalinformationaboutGalaxyisavailableonwww.galaxy.com.†ThisfigureispresentedasofMarch31,2024andincludesETFAUMof$1,360.89billionUSDofwhichapproximately$65.87billionUSDisingoldassetswithrespecttoSPDRproductsforwhichStateStreetGlobalAdvisorsFundsDistributors,LLC(SSGAFD)actssolelyasthemarketingagent.SSGAFDandStateStreetGlobalAdvisorsareaffiliated.PleasenoteallAUMisunaudited.1GalaxyAssetManagementisnotaffiliatedwithStateStreetGlobalAdvisors.2AsofMay31,2024.
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