Galaxy Digital Unveils Launch of Solana Funds & Bloomberg Galaxy Solana Index

Galaxy Digital follows in Grayscale’s footsteps and announced the launch of their Solana Funds that will track the performance of the Bloomberg Galaxy Solana Index.

First Grayscale Now Galaxy Digital

Galaxy Digital has announced the launch of its Solana Fund on Dec. 16 which will track the newly launched Bloomberg Galaxy Solana Index (Ticker: SOL).

The fund will be a passively managed fund that is designed to provide institutional investors access to returns based on the performance of the SOL token through investment vehicles that don’t involve the “complexities” of investing in digital assets directly. The Bloomberg Galaxy SOL Index is a digital asset benchmark that is owned and administered by Bloomberg Index Services Limited and is co-branded in collaboration with Galaxy Fund Management.

“The crypto economy is on an exciting growth trajectory, and we’re meeting the opportunity by thoughtfully expanding our product suite to provide access to the institutional-grade portion of the digital asset class. Solana has a compelling use case, a strong technological foundation, and is of increasing interest to crypto investors,” stated Steve Kurz, Global Head of Asset Management at Galaxy Digital, in the official press release.

Source: Galaxy Digital Website

“We’re consistently looking for opportunities in the ever-evolving crypto markets, and it’s clear that Solana is growing quickly in the space. This new index is another opportunity to meet the actively engaged institutional market, and we’re excited to continue working closely with an industry leader like Galaxy as we expand our crypto capabilities and offerings,” added Alan Campbell, Global Head of Product for Bloomberg’s Multi-Asset Index business.

What is Galaxy Digital?

Galaxy Digital is a financial services and investment management firm that enables access to a full suite of financial solutions for the digital assets ecosystem, designed both for institutional and direct clients. The firm is one of the public companies that hold the largest stack of BTC after MicroStrategy and Tesla. The company holds 16,400 BTC in its treasury which is currently valued at $768.47 million as per data from BuyBitcoinWorldwide.

Source:: Solana News

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