State Street, Galaxy Digital to Develop Active Crypto Trading Products

State Street Global Advisors, a unit of financial services giant State Street (STT), filed an application with the U.S. Securities and Exchange Commission (SEC) to register a crypto-based fund called the SSGA Active Trust. Galaxy will be responsible for the day-to-day management of the fund’s investments, according to the filing. The company is affiliated with Galaxy Digital (GLXY), a financial services company that specializes in digital assets.