Galaxy Digital’s assets under management (AUM) grew to over $3.1 billion in October from $2.2 billion in September, with its Ether-focused exchange-traded fund (ETF) cited as one of the main driving forces.
- The Mike Novogratz-led asset manager reported the preliminary AUM figure on Wednesday.
- Compared to the equivalent figure in 2020, the firm’s AUM has grown over 600% from $446.3 million at the end of October 2020.
- October’s performance can largely be attributed to Galaxy’s roster of Canadian ETFs, particularly its Toronto Stock Exchange-listed CI Galaxy Ethereum ETF (ETHX), the company’s global asset management head Steve Kurz said in an interview with Bloomberg.
- ETHX, which invests directly in the world’s second largest cryptocurrency ether, saw its price grow by over 28% in October, tracking a surge in the underlying asset’s value of over 40%.
- “From a market infrastructure and development of the asset class perspective, ether is picking up steam, probably the way bitcoin did a year-and-a-half ago,” Kurz said.
Read more: Options Traders Bet Big Ether’s Turn for an ETF Is Coming Soon
Source: https://www.bitcoinnewsminer.com/galaxy-digitals-october-aum-grew-more-than-40-to-3-1b/
More from BitcoinNewsMiner
Crypto Assets Can Help Russia Return to Global Financial Market, Lawmaker Says
Source Node: 1220127
Time Stamp: Mar 17, 2022
Market Wrap: Bitcoin Tumbles Most in 1 Year as Crypto Cracks Appear
Source Node: 1374655
Time Stamp: Jun 13, 2022
Yellen’s Positive Remarks About Biden’s Crypto EO Push Bitcoin Past $41,000
Source Node: 1206842
Time Stamp: Mar 9, 2022
Majority of Salvadorans Skeptical of BTC as Currency, Poll Finds
Source Node: 969382
Time Stamp: Jul 9, 2021
South Korean Deputy Prime Minister Eases Anti-Crypto Rhetoric, Aims to Create More Domestic Market Opportunities
Source Node: 868810
Time Stamp: May 20, 2021
Bitcoin, Ethereum Technical Analysis: ETH Falls Below $3,000 to Start the Weekend
Source Node: 1172187
Time Stamp: Feb 12, 2022
TooNFT Looks to Revolutionise the Webtoon Industry via Next-Generation Blockchain Platform
Source Node: 1237502
Time Stamp: Mar 27, 2022
Bitcoin, Ethereum Technical Analysis: BTC Surges to $45,000, as Russia Considers Accepting the Crypto for Oil & Gas
Source Node: 1234612
Time Stamp: Mar 25, 2022
ECB Officially Starts to Investigate Digital Euro — Development Could Begin in 2 Years
Source Node: 1064264
Time Stamp: Sep 6, 2021
Leading Auction House Sotheby’s Auctions 107 Bored Ape Yacht Club NFTs for $24 Million
Source Node: 1067969
Time Stamp: Sep 11, 2021
Chinese Police Return Bitcoin to Victim in 3 Million Yuan Theft Case
Source Node: 857970
Time Stamp: May 16, 2021