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State Street Launches Digital Asset ETFs Managed by Galaxy

State Street’s new ETFs offer diversified digital asset exposure with built-in volatility control, all managed by Galaxy Asset Management.

1 min 15 secSeptember 10, 2024

Highlights:

Broad Exposure: Invests in companies benefiting from blockchain and cryptocurrency adoption.

Volatility Management: HECO incorporates options strategies for reduced risk.

Innovative Focus: TEKX targets transformative technologies, including AI and blockchain.

State Street Launches Digital Asset ETFs Managed by Galaxy

State Street Global Advisors has launched three new exchange-traded funds (ETFs) focused on digital assets, managed by Galaxy Asset Management. This initiative comes as the firm seeks to capitalize on the growing interest in blockchain technology and cryptocurrencies, despite a recent trend of investor pullback from spot Bitcoin ETFs.

 

 

The new ETFs include:

SPDR Galaxy Digital Asset Ecosystem ETF (DECO): This fund aims to provide exposure to companies poised to benefit from the increasing adoption of blockchain and digital assets, including investments in cryptocurrency through ETFs and futures.

SPDR Galaxy Hedged Digital Asset Ecosystem ETF (HECO): Similar to DECO, this ETF incorporates strategies to manage volatility through covered call and protective put options, offering a more conservative approach to investing in the digital asset space.

SPDR Galaxy Transformative Tech Accelerators ETF (TEKX): This fund targets companies involved in breakthrough technologies, including blockchain and artificial intelligence, aiming for long-term capital growth.

 

Anna Paglia, Chief Business Officer at State Street, emphasized the transformative potential of digital assets and blockchain technology on financial markets and the economy. The new ETFs are designed to appeal to a broader range of investors by providing diversified exposure to the digital asset landscape while managing inherent market volatility.

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