State Street Global Advisors and Galaxy Asset Management Collaborate on New Digital Asset-based Strategies

State Street Global Advisors and Galaxy Asset Management have unveiled a new collaboration aimed at bringing investors digital asset-based strategies, offering key exposure to companies involved in the digital asset space. According to a story in The Trade news, the agreement, which aims to move beyond cryptocurrencies and bitcoin, will see the two firms provide investors with access to the $2.4 trillion digital asset landscape through manager-directed strategies. With growing interest in digital assets from both institutional and retail traders as a result of spot bitcoin ETFs, investors are also seeking exposure to the asset class through investment options beyond pure spot bitcoin. The two firms stated that they believe this is where the next level of growth is for the digital asset ecosystem. 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.