HomeBlockchainGalaxy and CoinShares Q1 Results, ETFs Utilizing Blockchain Technology, and Other Updates

Galaxy and CoinShares Q1 Results, ETFs Utilizing Blockchain Technology, and Other Updates

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Financial Results of Spot Bitcoin ETF Managers and Other Crypto News

CoinShares and Galaxy Digital, two prominent spot Bitcoin exchange-traded fund (ETF) managers, have reported impressive financial results for the first quarter of 2024. CoinShares saw a record revenue of 19.5 million pounds ($24.5 million), a 216% increase from the same period in 2023, while Galaxy Digital’s net income rose by 40% to $422 million.

Additionally, Franklin Templeton CEO Jenny Johnson predicted that all ETFs and mutual funds will soon be on blockchain, citing the technology’s cost-saving benefits. Polymarket, a platform for betting on political events, raised $70 million in funding led by Peter Thiel’s Founders Fund and Ethereum co-founder Vitalik Buterin.

In other news, Antonio Juliano, the founder of dYdX, has decided to step down as CEO after seven years, with Ivo Crnkovic-Rubsamen taking over the leadership role. Stay tuned for more updates on the latest developments in the crypto and blockchain industry with Crypto Biz.

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