State Street, Galaxy Digital to Develop Active Crypto Trading Products
Galaxy Digital inked a similar deal with DWS last year for the European market.
Binary trading platforms with better performance and payouts
Galaxy Digital
Galaxy Digital inked a similar deal with DWS last year for the European market.
In an interview at Consensus 2024, the Galaxy Digital CEO was asked about a plethora of regulatory and legislative issues affecting crypto.
The approval of spot bitcoin ETFs was a catalyst for the increase in counterparty engagement in the first quarter as more traditional asset managers and hedge funds entered the industry, the report said.
The products, which track the performance of the two largest cryptocurrencies by market value, carry a fee of 0.35% and were listed on the Deutsche Boerse on Thursday.
There are a number of key catalysts for the company, and these include ETF net inflows, the development of GalaxyOne and a potential Nasdaq listing, the report said.
Investment bank Canaccord started research on the stock with a buy rating and C$17 per share price target, implying 30% upside.
The index provider previously had one of the highest fees of 0.39% for its bitcoin ETF.
Mike Novogratz’s firm is also interested in companies FTX invested in as a venture capital provider.