Galaxy Digital Partners With Itaú Asset Management To Launch Crypto ETFs in Brazil

Galaxy Digital collaborates with Itaú Asset Management, the biggest private asset manager in Latin America, to create a full range of exchange-traded funds for digital assets that are physically backed and listed in Brazil.

The IT Now Bloomberg Galaxy Bitcoin ETF will begin trading as soon as markets open today on Brazil’s B3 stock exchange thanks to a partnership with Mike Novogratz’s Galaxy Digital. Investors will first be given access to Bitcoin, and as it advances, investors will have access to additional digital asset strategies.

Steve Kurz, Global Head of Asset Management at Galaxy, stated:

“We are thrilled to partner with Itaú Asset to bring institutional grade crypto ETF products to the Brazilian market. Our shared mission is to satisfy the strong demand in the region for high-quality education and access to the growing crypto economy.”

Itaú Asset is the investment fund manager for Itaú Unibanco. It was established in 1957 and has been in business for more than 60 years. With about $165 billion in AUM, it is currently Latin America’s largest private asset manager.

Recently, Galaxy said that it owns around $76.8 million in cash and digital assets linked to the struggling cryptocurrency exchange FTX.

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Harold

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