Crypto News: Galaxy and State Street Introduce 3 Innovative Crypto ETFs
Galaxy and State Street Introduce Innovative Crypto ETFs
State Street Global Advisors and Galaxy Asset Management have launched three new crypto-focused exchange-traded funds (ETFs), despite recent heavy outflows from similar investment products. The newly launched ETFs will start trading on Tuesday, according to a statement.
Details of the New Crypto ETFs
Galaxy and State Street Introduce:
- SPDR Galaxy Digital Asset Ecosystem ETF (DECO)
- SPDR Galaxy Hedged Digital Asset Ecosystem ETF (HECO)
- SPDR Galaxy Transformative Tech Accelerators ETF (TEKX)
These funds aim to give investors exposure to the blockchain industry while managing volatility. Instead of holding cryptocurrencies directly, these new funds will invest in shares of crypto-related companies and other ETFs that hold physical Bitcoin or Bitcoin futures.
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