According to Coin World, asset management giant Dufu Global Advisors has teamed up with Galaxy Digital to launch an ETF, providing exposure to crypto assets beyond physical Bitcoin ETFs.
The fund manager, which oversees $4.13 trillion in assets, said in a statement on June 26, “We believe this is the next level of growth for the digital asset ecosystem.”
Dufu Global Advisors has filed multiple proposed fund documents with the U.S. Securities and Exchange Commission.
The company stated that both institutional and retail investors are seeking exposure to the growing category of digital assets “beyond pure physical Bitcoin investment choices.”
Earlier, Dufu Global Advisors filed a document with the U.S. Securities and Exchange Commission on June 26 proposing the SPDR Galaxy Digital Asset Ecosystem ETF.
The fund, as outlined in the filing, will invest in publicly traded cryptocurrency companies in the U.S. and abroad, as well as futures and spot ETF products. The asset manager also proposed the SPDR Galaxy Emerging Tech Enablement ETF and the Hedged Digital Asset Ecosystem ETF.
Dufu Global Advisors is no stranger to the digital asset market. The company has been involved in the cryptocurrency space since at least June 2021, when it launched a dedicated digital asset division. However, the asset management giant has yet to file for a physical Bitcoin or Ethereum ETF.
Dufu is the third-largest ETF issuer and is working with Galaxy to develop digital asset-based ETFs. Notably, Dufu was surprised by the absence of a full-fledged physical BTC & ETH ETF.
Nate Geraci, President of ETF Store, expressed surprise at Dufu’s lack of “full” commitment to physical Bitcoin and Ethereum ETFs.
Some of the company’s biggest competitors have already launched their own physical Bitcoin ETFs in the U.S. According to Farside Investors, these investment products have accumulated more than $14.4 billion since trading began in January.
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