State Street Global Advisors has teamed up with Galaxy Digital to introduce new exchange-traded funds (ETFs) offering exposure to digital assets. The collaboration aims to go beyond traditional spot Bitcoin ETFs, catering to the growing interest from both institutional and retail investors. State Street's proposed SPDR Galaxy Digital Asset Ecosystem ETF will invest in publicly traded digital asset companies, including crypto exchanges, mining firms, and hardware wallet providers. Additionally, they plan to explore futures and spot ETF products. While some view this move as a step towards mainstream adoption of crypto assets, others like Nate Geraci find it surprising that State Street did not focus solely on spot Bitcoin and upcoming spot Ether ETFs. The partnership is expected to leverage State Street's expertise in administrative services for the digital asset ETFs developed by SSGA and Galaxy Digital, marking a significant milestone in the evolving landscape of digital asset investments. Read more AI-generated news on: https://app.chaingpt.org/news
