Sol price indexes help fund’s launch. Dec. 16, 2021
On Wednesday Galaxy Digital (TSX: GLXY) announced the launch of the Galaxy Solana Funds focused on the high-speed Solana blockchain whose cryptocurrency has seen explosive growth since the beginning of the year. The Galaxy Solana Funds are passively managed funds that seek to track the performance of the newly-launched Bloomberg Galaxy Solana Index (ticker: SOL).
This creates another opportunity for institutional investors (in addition to the Grayscale Solana Trust we mentioned here to jump aboard the Solana rocket ship without having to hold any SOL or dealing with the risks crypto holders know so well.
Galaxy Fund Management handled $3.4 billion in assets across over 20 funds as of Nov. 30 so this endorsement is another testament to Solana’s tremendous success since inception.
The Bloomberg Galaxy Solana Index (on Bloomberg terminal via ticker SOL INDEX <GO>) is a convenient tool for all Bloomberg subscribers to track the performance of SOL and an additional sign of the level of maturity and recognition Solana has achieved in such a short period of time.
A multi-billion dollar crypto fund and the leading financial market data provider join forces to create tools for investors to track SOL performance… probably nothing.
Full text of the Galaxy Digital Holding anouncement.