Galaxy and Itaú Asset Management Partner to Launch Crypto ETFs in Brazil

Partnership commences with BTC ETF with plans to expand into other diversified strategies

NEW YORK & SÃO PAULO, November 10, 2022 – Galaxy Digital Holdings Ltd. (TSX: GLXY) ("Galaxy" or “the Company"), a financial services and investment management innovator in the digital asset, cryptocurrency, and blockchain technology sectors, and Itaú Asset Management (“Itaú Asset”) the largest private asset manager in Latin America, today announced a strategic partnership to develop a comprehensive suite of Brazilian-listed, physically backed, digital asset exchange-traded funds.

The first ETF of this new partnership, the IT Now Bloomberg Galaxy Bitcoin ETF (BITI11), will start trading at the market’s open on November 10, 2022, on the B3 Stock Exchange as part of Itaú Asset’s broader ETF suite, the IT Now Series. The initial product will offer investors exposure to Bitcoin, the largest cryptocurrency by market cap. Galaxy and Itaú Asset aim to expand the suite over time to include other diversified strategies in the digital asset space.

“We are thrilled to partner with Itaú Asset to bring institutional grade crypto ETF products to the Brazilian market,” said Steve Kurz, Global Head of Asset Management at Galaxy. “Our shared mission is to satisfy the strong demand in the region for high-quality education and access to the growing crypto economy.”

“We aim to offer the best solutions to our clients to meet their investment needs in a diversified way and with an international scope,” said Renato Eid Tucci, Head of Beta Strategy and ESG Integration at Itaú Asset. “This partnership combines the solidity and credibility that we have built over more than 60 years at Itaú Asset with the strength and expertise of Galaxy as one of the most experienced players in the global digital asset space.”

Galaxy is a premier provider of investment and financial services for institutions looking to access the digital asset space. The Company’s asset-management arm manages $2.04 billion as of October 31, 2022, across passive, active, and venture strategies.

Itaú Asset is Itaú Unibanco’s investment fund management company. Founded in 1957, it has been operating for over 60 years and is currently Latin America’s largest private asset manager with approximately $165 billion in AUM. Approximately 300 professionals work in offices across São Paulo and Rio de Janeiro, New York, and Santiago, Chile. Among the firm’s institutional strengths are its diversified investment strategies, built on the firm’s deep research capabilities and sophisticated analysis.

About Itaú Unibanco

Itaú Unibanco’s purpose is to promote people’s power of transformation and we do it through a strategic agenda focused on client centricity and digital transformation, based also on the diversity of our people. The largest bank in Latin America, Itaú Unibanco is present in 18 countries and has more than 65 million customers, among individuals and companies in all segments, to whom we offer the best experiences in financial products and services. Itaú Unibanco has been selected for the 21st consecutive time to be part of the Dow Jones Sustainability World Index (DJSI World), being the only Latin American financial institution to be part of the index since its creation in 1999. www.itau.com.br

About Galaxy

Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing institutions, startups, and qualified individuals access to the crypto economy. Our full suite of financial services is custom-made for a digitally native ecosystem, spanning multiple synergistic business lines: Trading, Asset Management, Investment Banking, Mining, and Ventures. 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 offices in Chicago, New Jersey, London, Amsterdam, Hong Kong, Tokyo, and the Cayman Islands (reg. office).

Additional information about Galaxy's businesses and products is available on www.galaxy.com.

Disclaimers

The TSX has neither approved nor disapproved the contents of this press release.

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