Cryptocurrency Step from the Giant Bank Managing 4.3 Trillion Dollars and the Bitcoin Issuer!

State Street Global Advisors, one of the world's largest investment companies, has taken an initiative towards cryptocurrency companies.

According to the statement, State Street started to cooperate with Galaxy Asset Management.

State Street manages more than $4.3 trillion in assets as of March 2024, while Galaxy manages approximately $6.2 billion in assets.



A fund will be established for crypto companies

State Street and Galaxy Asset Management plan to launch exchange-traded funds that will expose investors to cryptocurrency companies.

State Street filed an application with the US Securities and Commission (SEC) for the fund called SSGA Active Trust. The SEC has not yet made a decision on the application.

The fund will invest in shares of cryptocurrency companies, crypto futures ETFs and contracts, and spot crypto investment products.

Investors' demands will be met

Companies that will take part in the fund will include blockchain software developers, Bitcoin miners, exchanges and cryptocurrency payment companies.

According to the press release, the reason for establishing the fund is that investors demand different instruments than Bitcoin.

“We believe that the digital asset space is much more than individual crypto elements, and that it is companies in the crypto space that best understand this ecosystem and its correlation with financial markets,” State Street said.