Crypto News- State Street and Galaxy Digital Launch Three Innovative ETFs Focused on Blockchain and Cryptocurrency

Crypto News- State Street and Galaxy Digital’s New ETFs: A Diversified Approach to Blockchain and Cryptocurrency Investments

Crypto News– Partnership Creates Innovative ETFs for Diverse Exposure State Street Global Advisors and Galaxy Digital have teamed up to introduce three new exchange-traded funds (ETFs). These funds aim to provide investment exposure to blockchain technology and cryptocurrencies through a mix of futures and other ETFs.

Introducing DECO, HECO, and TEKX: The New ETFs The newly launched ETFs—DECO, HECO, and TEKX—began trading on Tuesday. DECO and HECO focus on cryptocurrency exposures via ETFs and futures, while TEKX aims to manage volatility with covered call options and protective put options.

State Street and Galaxy Digital’s Vision for Digital Assets According to Anna Paglia, Chief Business Officer at State Street Global Advisors, digital assets and blockchain technology are set to revolutionize financial markets and the economy in the coming decade. The partnership addresses investor concerns about volatile single-currency crypto assets by offering diversified, actively managed digital asset portfolios.

Regulatory Approval and Strategic Moves In July, State Street and Galaxy Digital sought approval from the U.S. Securities and Exchange Commission (SEC) to launch these ETFs. The firms believe that an active management approach is crucial to leverage the full potential of the evolving digital asset space.

Bitcoin ETFs’ Growing Popularity Investment in Bitcoin ETFs is surging, with a notable increase in adoption by advisors. The 12 bitcoin ETFs collectively recorded a $1.61 billion total daily trading volume on Monday and have accumulated $16.92 billion in net inflows since their inception in January.