Galaxy

Bitcoin

Million

Pepe

Spot

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&nbsp;spot <a href="https://insidebitcoins.com/news/spot-bitcoin-etfs-record-worst-outflows-since-april-after-1-3b-leave-their-reserves-in-2-weeks" rel="noopener noreferrer nofollow">Bitcoin ETFs</a>.
“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 <a href="https://newsroom.statestreet.com/press-releases/press-release-details/2024/State-Street-Global-Advisors-and-Galaxy-Asset-Management-Join-Forces-to-Introduce-Investors-to-The-Next-Evolution-of-Digital-Asset-Investing/default.aspx" rel="noopener noreferrer nofollow">statement</a>.&nbsp;
<img decoding="async" class="" src="https://www.theia.org/sites/default/files/2019-05/State%20Street%20Global%20Advisors%20Ltd.jpg" alt="State Street Global Advisors Ltd | IA Members | The Investment Association" width="986" height="345">
<h2 id="span-style-font-weight-400-state-street-global-advisors-files-for-multiple-proposed-funds-with-the-sec-span">State Street Global Advisors Files For Multiple Proposed Funds With The SEC</h2>
Institutional and retail investors are seeking exposure to the growing digital asset class “through investment options beyond pure spot bitcoin,” it said.&nbsp;
This comes after State Street Global Advisors proposed a SPDR Galaxy Digital Asset Ecosystem ETF in a June 26 <a href="https://www.sec.gov/Archives/edgar/data/1516212/000119312524169018/d849788d485apos.htm" rel="noopener noreferrer nofollow">filing</a> with the Securities and Exchange Commission (<a href="https://insidebitcoins.com/news/president-joe-biden-seeks-term-extension-for-anti-crypto-sec-commissioner-caroline-crenshaw" rel="noopener noreferrer nofollow">SEC</a>).&nbsp;
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.&nbsp;
<h2 id="span-style-font-weight-400-etf-store-president-surprised-by-lack-of-spot-bitcoin-and-etf-engagement-span">ETF Store President Surprised By Lack Of Spot Bitcoin And ETF Engagement</h2>
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.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 State Street, the 3rd largest ETF issuer, is partnering w/ Galaxy to collaborate on digital asset-based ETFs…
 Def noteworthy, but surprised State Street not going all-in w/ spot btc &amp; eth ETFs. <a href="https://t.co/Uv5k7eKuFB" rel="noopener noreferrer nofollow">https://t.co/Uv5k7eKuFB</a>
 — Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1806070987404058672?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 26, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
ETF Store President Nate Geraci said he is “surprised” that State Street is not going “all-in” on spot Bitcoin and pending spot <a href="https://insidebitcoins.com/news/bloomberg-analyst-predicts-ethereum-etfs-will-launch-on-july-2" rel="noopener noreferrer nofollow">Ethereum ETFs</a>.
Some of the firm’s biggest competitors have launched their own spot Bitcoin ETFs in the US. Since they started trading in January, the investment products have collectively accumulated more than $14.4 billion, according to <a href="https://farside.co.uk/?p=997" rel="noopener noreferrer nofollow">data</a> from Farside Investors.
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State Street Global Advisors Partners With Galaxy Digital To Launch ETFs Beyond Spot Bitcoin

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Inside Bitcoins

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