The Traditional and Digital Asset-Native Firms
Aim to Develop Exchange-Traded Products on Certain Digital Assets
as First Use Case
NEW
YORK and FRANKFURT, Germany, April 26,
2023 /CNW/ - Galaxy Digital Holdings Ltd.
(TSX: GLXY) ("Galaxy"), a financial services and investment
management innovator in the digital asset and blockchain technology
sector, and DWS, one of the world's leading asset managers, have
entered into a strategic alliance with the aim of initially
developing a comprehensive suite exchange-traded products (ETPs) on
certain digital assets in Europe.
The strategic allies plan to also subsequently explore other
digital asset solutions.
![Galaxy Digital Holdings Ltd. Logo (CNW Group/Galaxy Digital Holdings Ltd.) Galaxy Digital Holdings Ltd. Logo (CNW Group/Galaxy Digital Holdings Ltd.)](https://mma.prnewswire.com/media/2063215/Galaxy_Digital_Holdings_Ltd__Galaxy_and_DWS_Enter_Strategic_Alli.jpg)
As the digital asset market continues to mature, Galaxy's asset
management unit and DWS will work together to provide European
investors access to the USD ~1 trillion digital assets market
through cost-effective investment solutions that are easy to access
via traditional brokerage accounts. This alliance is expected to
significantly enhance Galaxy's international distribution
capabilities by deepening access to European investors who are keen
to participate in the digital assets market. For DWS, this alliance
fulfills a key priority to develop comprehensive digital solutions,
unlocking investor access to the ever-growing blockchain and
digital assets universe. DWS will be Galaxy's exclusive ally for
cryptocurrencies ETPs in the European market.
"Galaxy's mission is to empower investors across the globe with
simple and secure access to the digital asset ecosystem, through
best-in-class education and institutional-grade products," said
Steve Kurz, Global Head of Asset
Management at Galaxy. "By allying with DWS, one of the most
successful and innovative asset management firms in the world, we
are excited to enhance our ability to deliver comprehensive
solutions to European investors, empowering them to tap into the
vast potential and promise of blockchain technology and digital
assets in a safe and convenient manner."
"This alliance brings together two firms with unparalleled
collective experience in building and pioneering innovative
investment solutions across both traditional and digital asset
markets," said Fiona Bassett, Global
Head of Systematic Investment Solutions at DWS. "As we see
increasing client interest in digital assets and the need for
secure access, our shared education-first approach and commitment
to providing clients with access via well-known and trusted
investment vehicles will enable us to build thoughtfully
constructed and thoroughly researched products. We look forward to
working with Galaxy to further accelerate international adoption of
the digital asset economy."
The alliance is expected to combine DWS's strong portfolio
management, product structuring, and distribution expertise across
liquid and illiquid asset classes with Galaxy's technical
infrastructure and its asset management and research capabilities
for digital assets. The alliance aims to be a catalyst for both
firms to jointly profit from emerging digital asset
opportunities.
Bringing together the benefits of a diversified platform and
deep asset-class expertise across traditional and digital asset
markets, Galaxy's asset management unit develops and manages a
broad range of passive, active, and venture strategies consisting
of over USD 2 billion in assets under
management. Galaxy's asset management arm works with investors
around the world, including through trusted, established regional
partners such as DWS in Europe and
others in Canada and Latin America.
About Galaxy
Galaxy (TSX: GLXY) is a technology-driven financial services and
investment management firm that provides institutions and direct
clients with a full suite of financial solutions spanning the
digital assets ecosystem. Galaxy Digital operates in the following
businesses: Trading, Asset Management, Investment Banking, Mining
and Principal Investments.
Galaxy's CEO and Founder Michael
Novogratz leads a team of crypto enthusiasts
and institutional veterans working together on a mission to
engineer a new economic paradigm. The Company is headquartered in
New York City, with global offices
across North America, Europe, and Asia.
Additional information about the Company's businesses and
products is available on www.galaxy.com.
About DWS
DWS Group (DWS) with EUR 821bn of
assets under management (as of 31 December
2022) aspires to be one of the world's leading asset
managers. Building on more than 60 years of experience, it has a
reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as
a trusted source for integrated investment solutions, stability and
innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong
investment capabilities across all major liquid and illiquid asset
classes as well as solutions aligned to growth trends. Our diverse
expertise in Active, Passive and Alternatives asset management – as
well as our deep environmental, social and governance focus –
complement each other when creating targeted solutions for our
clients. Our expertise and on-the-ground knowledge of our
economists, research analysts and investment professionals are
brought together in one consistent global CIO View, giving
strategic guidance to our investment approach.
DWS wants to innovate and shape the future of investing. We
understand that, both as a corporate as well as a trusted advisor
to our clients, we have a crucial role in helping navigate the
transition to a more sustainable future. With approximately 3,800
employees in offices all over the world, we are local while being
one global team. We are committed to acting on behalf of our
clients and investing with their best interests at heart so that
they can reach their financial goals, no matter what the future
holds. With our entrepreneurial, collaborative spirit, we work
every day to deliver outstanding investment results, in both good
and challenging times to build the best foundation for our clients'
financial future.
Disclaimers
The TSX has neither approved nor disapproved the contents of
this press release.
CAUTION ABOUT FORWARD-LOOKING
STATEMENTS
This release contains certain forward-looking information and
forward-looking statements, as defined in applicable securities
laws (collectively referred to herein as "forward-looking
statements"). These forward-looking statements relate to the
strategic alliance with DWS, digital asset solutions and products
and expected profitability. All statements other than statements of
historical fact are forward-looking statements. Often, but not
always, forward-looking statements can be identified by the use of
words such as "plans", "expects", "budget", "scheduled",
"estimates", "continues", "forecasts", "projects", "predicts",
"intends", "anticipates" or "believes", "seeks" or variations of,
or the negatives of, such words and phrases, or state that certain
actions, events or results "may", "could", "would", "should",
"might" or "will" be taken, occur or be achieved. The
forward-looking statements contained in this release are based on
our current expectations and beliefs concerning future developments
and their potential effects on us taking into account information
currently available to us. There can be no assurance that future
developments affecting us will be those that we have anticipated.
Forward-looking statements involve known and unknown risks
uncertainties and other factors that may cause actual results to
differ materially from those anticipated in such forward-looking
statements. Inherent in forward-looking statements are risks,
uncertainties and other factors beyond the Company's ability to
predict or control. Forward-looking statements are subject to the
risk that the Alliance, solutions or products do not perform as
anticipated. They are also subject to the risks described in the
Risk Factors section of the Annual Information Form ("AIF") dated
March 28, 2023 of Galaxy Digital
Holdings Ltd. Factors that could cause outcomes to differ
materially from those described in such forward-looking statements
include, but are not limited to, a decline in the digital asset
market or general economic conditions; a delay or failure in
developing digital asset solutions and products; and changes in
applicable law or regulation. Readers are cautioned that such risk
factors, uncertainties and other factors are not exhaustive. Actual
results and developments are likely to differ, and may differ
materially, from those expressed or implied by the forward-looking
statements in this release. The forward-looking statements in this
release are applicable only as of the date of this release or as of
the date specified in the relevant forward-looking statement and
the Company does not intend, and does not assume any obligation, to
update these forward-looking statements, except as required by
applicable securities laws. Investors are cautioned that
forward-looking statements are not guarantees of future performance
and are inherently uncertain. Accordingly, investors are cautioned
not to put undue reliance on forward-looking statements.
SOURCE Galaxy Digital Holdings Ltd.