State Street and Galaxy Digital Launch New Cryptocurrency ETFs

State Street Global Advisors and Galaxy Digital have teamed up to launch three exchange-traded funds (ETFs) that offer investment opportunities in companies related to blockchain technology and cryptocurrencies.

These ETFs include futures and other digital asset portfolios aimed at providing diversified exposure to the evolving market.

In a statement, State Street Global Advisors’ Chief Business Officer Anna Paglia expressed the potential of digital assets and blockchain technology to transform financial markets and the economy in the coming years.

She also acknowledged the need for actively managed digital asset portfolios to provide a more stable investment option for those who are not comfortable with the volatility of single-currency cryptocurrencies.

To create these actively managed ETFs, State Street has collaborated with Galaxy Digital’s affiliate, Galaxy Asset Management.