{"id":540770,"date":"2024-06-27T08:01:14","date_gmt":"2024-06-27T08:01:14","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=540770"},"modified":"2024-06-27T10:01:48","modified_gmt":"2024-06-27T10:01:48","slug":"state-street-global-advisors-partners-with-galaxy-digital-to-launch-etfs-beyond-spot-bitcoin","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/state-street-global-advisors-partners-with-galaxy-digital-to-launch-etfs-beyond-spot-bitcoin","title":{"rendered":"State Street Global Advisors Partners With Galaxy Digital To Launch ETFs Beyond Spot Bitcoin"},"content":{"rendered":"

Multi-trillion dollar asset manager State Street Global Advisors has partnered with Galaxy Digital to launch ETFs (exchange-traded funds) that provide exposure to crypto assets beyond<\/span> spot <\/span>Bitcoin ETFs<\/span><\/a>.<\/span><\/p>\n

“We believe this is where the next level of growth is for the digital asset ecosystem,” the fund management titan, which has $4.13 trillion in assets under management, said in a June 26 statement<\/a>. <\/span><\/p>\n

\"State<\/p>\n

State Street Global Advisors Files For Multiple Proposed Funds With The SEC<\/span><\/h2>\n

Institutional and retail investors are seeking exposure to the growing digital asset class “through investment options beyond pure spot bitcoin,” it said. <\/span><\/p>\n

This comes after State Street Global Advisors proposed a SPDR Galaxy Digital Asset Ecosystem ETF in a June 26 <\/span>filing<\/span><\/a> with the Securities and Exchange Commission (<\/span>SEC<\/span><\/a>). <\/span><\/p>\n

The fund will invest in publicly traded crypto firms in both the US and abroad, as well as futures and spot ETF products, according to the filing. A SPDR Galaxy Emerging Technology Enablers ETF and a Hedged Digital Asset Ecosystem ETF were also proposed by the asset manager. <\/span><\/p>\n

ETF Store President Surprised By Lack Of Spot Bitcoin And ETF Engagement<\/span><\/h2>\n

State Street Global Advisors is not a new-comer to the digital asset market. It has been involved in the crypto space since at least June 2021 after it launched a dedicated digital asset division. However, the asset management titan has not submitted applications for a spot Bitcoin or an Ethereum ETF.<\/span><\/p>\n

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State Street, the 3rd largest ETF issuer, is partnering w\/ Galaxy to collaborate on digital asset-based ETFs…<\/p>\n

Def noteworthy, but surprised State Street not going all-in w\/ spot btc & eth ETFs. https:\/\/t.co\/Uv5k7eKuFB<\/a><\/p>\n

— Nate Geraci (@NateGeraci) June 26, 2024<\/a><\/p><\/blockquote>\n