Galaxy Digital Holdings Ltd., a leading global provider of blockchain and cryptocurrency financial services for institutions. (Galaxy Digital) today announced the launch of Galaxy Solana Funds, passively managed funds that seek to track the performance of the newly launched Bloomberg Galaxy Solana Index. Solana, the world’s fastest programmable altcoin project, can process up to 50,000 transactions per second and is home to over 400 DeFi, NFT and other Web 3.0 projects. For details cryptocoin.com keep reading.
Index created based on altcoin project
Galaxy Solana Funds is designed to provide institutional investors access to returns based on the performance of altcoin project Solana through simple, secure tools that free investors from the complexity of investing directly in digital assets, and aims to measure the altcoin’s performance. The digital asset benchmark is owned and managed by Bloomberg Index Services Limited. The index is available to Bloomberg clients in Terminal via the SOL INDEX ticker. Alan Campbell, Global Head of Product for Bloomberg’s Multi-Asset Index business, explained:
We are constantly looking for opportunities in the ever-evolving crypto markets and it is clear that Solana is growing rapidly in this space. This new index is another opportunity to meet the actively engaged institutional market, and we are excited to continue working closely with an industry leader like Galaxy as we expand our crypto capabilities and offerings.
Galaxy Digital’s funding platform, Galaxy Fund Management (GFM), has a market capitalization of over $3.4 billion on AUM as of November 30, 2021. GFM recorded a 54% increase from September 30, 2021 and a 323% increase to date. A leader in digital asset and Blockchain funds, GFM offers a wide range of passive and active funds spanning the cryptocurrency and Blockchain ecosystems. Steve Kurz, Global Head of Asset Management,
The crypto economy is on an exciting growth trajectory and we are capturing this opportunity by thoughtfully expanding our product suite to provide access to the enterprise-grade portion of the digital asset class. Solana has a compelling use case, a strong technological foundation, and growing interest from crypto investors.
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