State Street 

Asset management firms State Street Global Advisors and Galaxy Asset Management announced a strategic partnership to launch a non-Bitcoin ETF. Read this article to find out more!

State Street and Galaxy Target New ETF

thumbnail_State Street and Galaxy Target New ETF.png

State Street and Galaxy Target New ETF.png

 Asset management firms State Street Global Advisors and Galaxy Asset Management announced a strategic partnership to launch an ETF in addition to Bitcoin. This step is an effort to provide wider access for investors to the rapidly developing digital asset ecosystem.

State Street's Anna Paglia stated that this collaboration will help investors understand the role of digital assets in a diversified portfolio and participate in the sector's growth and innovation. 

Galaxy's Steve Kurz emphasized that the goal of this collaboration is to make digital assets more accessible to the investment community through the launch of a new ETF. State Street Bank and Trust will provide administrative and accounting services for this new digital asset ETF.

The Importance of ETFs in Digital Asset Investment

The partnership between the two companies is designed to bring the latest innovations in digital asset investing to investors. By combining the strengths of these two powerful brands, State Street Global Advisors and Galaxy Asset Management will provide investors access to the $2.4 trillion digital asset ecosystem through manager-led strategies. 

Anna Paglia added that the digital asset landscape is much broader than just a single crypto component, and crypto-native companies are the ones that best understand this ecosystem and its correlation with financial markets. Steve Kurz added that since Galaxy was founded, active management across the ecosystem of digital assets and crypto companies has become a core competency. 

By partnering with State Street Global Advisors and leveraging their combined expertise, they believe they are in a strong position to make digital assets more accessible to the broader investment community through new ETFs that offer exposure to digital assets.

Administrative and Accounting Services by State Street Bank and Trust

State Street Bank and Trust has been active in the digital asset space for several years, including creating a Digital division to provide digital expertise and solutions to clients in an integrated customer experience. 

The company has prioritized digital finance and expanded State Street's digital asset capabilities across Fund Accounting and Administration, Tokenization and Digital Custody by adopting distributed ledger technology. Currently, State Street provides fund administration and accounting services for a number of portfolios holding digital assets.

Recently, State Street began providing services for the first three Spot Bitcoin ETFs launched in the US integrating their service model with three digital custodians, acting as the issuing agent and payment agent and administration agent for the two new ETCs in Europe, and providing services fund administration and cash custody for Australia's first Bitcoin ETF. 

State Street is proud to be the first global administrator to serve digital asset ETFs in the Asia-Pacific, Canada, Europe and US markets, and remains committed to remaining at the forefront of financial services innovation.

State Street Global Advisors dan Galaxy Asset Management

State Street Global Advisors launched the first U.S. registered ETF in 1993 and has since become one of the largest global ETF providers, managing more than $4.3 trillion in assets. 

With more than 30 years of experience leveraging ETF structures to democratize, diversify and drive growth in trillion-dollar global markets, State Street Global Advisors consistently develops innovative solutions to meet investors' evolving goals.

Since 2018, Galaxy Asset Management has been dedicated to offering institutional-grade access to the digital asset ecosystem. Galaxy Asset Management is managed by a team of experienced professionals who adopt a conservative, fiduciary-first approach in all aspects of the business. 

Galaxy Asset Management oversees $6.2 billion in assets across passive, venture and active strategies. Galaxy Asset Management is an affiliate of Galaxy Digital Holdings Ltd., a digital asset and blockchain leader providing access to the growing digital economy.

By combining their expertise and resources, the two companies aim to provide innovative investment solutions that will help investors understand and capitalize on the opportunities offered by the rapidly growing digital asset ecosystem.  

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

 (SOL) price and other cryptos to find out today's crypto market trends in real-time on Bittime.

State Street and Galaxy Target New ETFs Beyond Bitcoin