Galaxy Digital has announced a partnership with the biggest asset manager in Latin America, Itaú Asset Management, to launch a new ETF, the IT Now Bloomberg Galaxy Bitcoin ETF (BITI11), available for trade on the B3 stock exchange. The launch is the first part of a new initiative by Galaxy Digital to create a suite of different crypto ETFs in Brazil. A quote from Galaxy Digital’s global head of asset management states, “As the crypto market develops institutionally, there is a big role for blue-chip firms like Galaxy to act as a partner to large institutions that have deep client bases yet lack the in-house expertise that’s necessary to build and create high-end quality crypto products.”
ETF Newz Says:
The new initiative from Galaxy Digital is exciting so we will have to see how BITI11 fares.