1. New ETFs from State Street and Galaxy Digital
2. Response to Growing Demand for Crypto ETFs
3. Mox Introduces Crypto ETF Services

State Street Global Advisors (SSGA), a leading asset manager with a $4.1 trillion portfolio, and Galaxy Digital, a crypto investment firm, have announced the launch of three new crypto ETFs.

New ETFs from State Street and Galaxy Digital

The launch of these ETFs reflects a continued belief in the long-term potential of digital assets, even as the sector faces increased volatility. The three new ETFs – SPDR Galaxy Digital Asset Ecosystem ETF (DECO), SPDR Galaxy Hedged Digital Asset Ecosystem ETF (HECO), and SPDR Galaxy Transformative Tech Accelerators ETF (TEKX) – are now actively trading and will be managed by Galaxy Asset Management, a subsidiary of Galaxy Digital.

Response to Growing Demand for Crypto ETFs

The fund plans to incorporate investments in futures and spot ETF products, broadening its scope and potential impact on the market. Additionally, these funds are designed to capitalize on burgeoning opportunities within the digital asset and emerging technology sectors. State Street Bank and Trust will provide essential administrative and accounting services for these digital assets. This collaboration builds on State Street’s longstanding involvement in the space, dating back to the establishment of its digital asset division in June 2021. Despite recent outflows in the cryptocurrency market, these ETFs are positioned to capitalize on the potential of blockchain and other transformative technologies.

Mox Introduces Crypto ETF Services

Last month, Hong Kong-based virtual bank Mox, backed by Standard Chartered, introduced a cryptocurrency ETF service for its customers. This move followed the launch of the Mox Invest platform. Mox became the first virtual bank to offer direct trading of spot Bitcoin (BTC) and Ethereum (ETH) ETFs. These ETFs provide a regulated and accessible way for investors to gain exposure to the two leading cryptocurrencies. According to the bank’s chief product officer, Jayant Bhatia, the introduction of cryptocurrency ETFs is just the beginning of Mox’s plans for its investment sector.

The new crypto ETFs from State Street and Galaxy Digital, along with Mox’s initiative, indicate a growing interest in digital assets and their long-term potential. These products aim to provide access to cutting-edge technologies and risk management in the market.