Invesco ETFs and Galaxy Digital Partner to Offer Investors Exposure to an Expansive Range of Products in the Digital Asset Ecosystem

Rhea-AI Summary

On September 22, 2021, Galaxy Digital and Invesco announced a strategic partnership to develop U.S.-listed, physically backed digital asset ETFs. This collaboration aims to leverage their combined strengths to create structured investment solutions in the fast-evolving digital asset space. Invesco's ETF assets under management have exceeded $471 billion, while Galaxy Digital manages $2.1 billion. The partnership is set to enhance investor access to cryptocurrency and blockchain investments.

Positive

• Strategic partnership with Invesco to develop U.S.-listed digital asset ETFs.
• Invesco has over $471 billion in ETF assets under management, signaling strong market presence.
• Galaxy Digital manages $2.1 billion, showcasing its expertise in digital assets.

Negative

• None.

ATLANTA and NEW YORK, Sept. 22, 2021 /PRNewswire/ -- Galaxy Digital Holdings Ltd. (TSX: GLXY)¹ ("Galaxy Digital") a leading financial services innovator in the digital asset, cryptocurrency, and blockchain technology sectors, and Invesco Ltd. (NYSE: IVZ), a leading global asset management firm, announced today a strategic partnership to develop a comprehensive suite of U.S.-listed, physically backed, digital asset exchange traded funds ("ETFs"). This alliance of market-leading capabilities will offer investors an unprecedented combination of solutions and information that give structure to the complex and fast-moving digital assets space.

"Invesco has a long history of using ETFs to democratize investor access to disruptive, innovative asset classes. Now, through our partnership with market leader Galaxy Digital, we are able to incorporate their expertise of blockchain technology, digital assets and cryptocurrency into our product capabilities," said John Hoffman, Head of Americas, ETFs & Indexed Strategies at Invesco. "This combination of complementary strengths will help clients safely and prudently navigate this exciting new asset class to help meet their desired investment outcomes."

"Galaxy Digital is laser-focused on helping investors safely and efficiently access this burgeoning asset class," added Steve Kurz, Head of Asset Management at Galaxy Digital. "Our partnership with Invesco, a longstanding ETF innovator, will bring the same thoughtful approach to educating investors about digital assets as Invesco has brought to the ETF industry itself."

In the last three years, Invesco ETFs & Indexed Strategies has more than doubled its assets under management ("AUM") to $471 billion USD² globally by both launching new ETFs and elevating existing products that help solve specific client needs. 

Galaxy Digital has $2.1 billion USD in AUM³. Its asset management business is rapidly expanding its capabilities to provide institutional-grade exposure to every investable corner of the crypto and blockchain ecosystems. As a first mover and leader in digital asset and blockchain funds, the asset management team combines extensive experience at both top-tier financial institutions and within the digital asset sector, working closely with bank platforms, institutional investors, and asset managers across distribution, client service, operations, and portfolio management.

¹ Galaxy Digital Holdings Ltd. is not affiliated with Invesco.
²Source, Invesco Finance, as of June 30, 2021
³ Source, Galaxy Digital Finance, as of August 31, 2021

About Invesco Ltd.
Invesco Ltd. is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco managed $1.5 trillion in assets on behalf of clients worldwide as of June 30, 2021. For more information, visit www.invesco.com.

Invesco Ltd. Media Contact: Stephanie Diiorio, stephanie.diiorio@invesco.com, (212) 278-9037

About Galaxy Digital
Galaxy Digital is a diversified financial services and investment management company in the digital asset, cryptocurrency, and blockchain technology sectors. Galaxy Digital's team has extensive experience spanning investing, portfolio management, capital markets, venture capital, asset management, and blockchain technology. Galaxy Digital operates in the following businesses: Trading, Asset Management, Principal Investments, Investment Banking, and Mining. Galaxy Digital's CEO and Founder is Mike Novogratz. The Company is headquartered in New York City, with offices in Chicago, San Francisco, London, Amsterdam, Tokyo, Hong Kong, the Cayman Islands (registered office), and New Jersey.

Disclaimers

The TSX has neither approved nor disapproved the contents of this press release.

SOURCE Galaxy Digital Holdings Ltd.

Galaxy Digital Contacts for further information:
Investors Relations Contacts:
Elsa Ballard, elsa.ballard@galaxydigital.io, (212) 390-9216
Steven Wald, steven.wald@galaxydigital.io, (212) 390-9216
Media Relations Contact: Eva Casanova, media@galaxydigital.io, (917) 847-4796

 

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SOURCE Invesco Ltd.

FAQ

What is the partnership between Invesco and Galaxy Digital?

Invesco and Galaxy Digital have partnered to create U.S.-listed, physically backed digital asset ETFs, offering innovative investment solutions.

How much does Invesco manage in assets?

As of June 30, 2021, Invesco manages over $471 billion in assets across its ETFs and Indexed Strategies.

What is the asset management size of Galaxy Digital?

Galaxy Digital manages approximately $2.1 billion in assets as of August 31, 2021.

When was the Invesco and Galaxy Digital partnership announced?

The partnership was announced on September 22, 2021.

What are the benefits of the new digital asset ETFs?

The digital asset ETFs aim to provide structured access to the rapidly evolving digital asset market, catering to diverse investment needs.