State Street Galaxy Hedged Digital Asset Ecosystem ETF
HECO
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- SPDR Galaxy Hedged Digital Asset Ecosystem ETF (HECO) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing in companies positioned to benefit from the adoption of blockchain and digital asset technologies, cryptocurrency exposures via ETFs and futures, and an options overlay strategy including covered calls and protective puts to manage volatility. The fund's core holdings include equity securities of digital asset miners such as Core Scientific Inc., Riot Platforms Inc., CleanSpark Inc., Bitfarms Ltd., and Cipher Mining Inc.; financial services firms like Robinhood Markets Inc., JPMorgan Chase & Co., Mastercard Inc., and Visa Inc.; technology providers including Micron Technology Inc. and Applied Materials Inc.; and cryptocurrency-related ETFs such as iShares Bitcoin Trust ETF, with additional allocations to industrials like Vertiv Holdings Co. It maintains a portfolio concentrated in financial services (approximately 46.5%), technology (30%), and communication services, with primary regional exposure to the United States (73%), alongside Canada, developed Asia, the Middle East, and Australasia. Launched on September 9, 2024, and domiciled in the United States, HECO is managed by State Street Global Advisors (SSGA), an indirect wholly owned subsidiary of State Street Corporation headquartered at One Iron Street, Boston, Massachusetts, with Galaxy Digital Capital Management LP serving as sub-adviser. The fund, part of SSGA's SPDR family, debuted alongside sister ETFs SPDR Galaxy Digital Asset Ecosystem ETF (DECO) and SPDR Galaxy Transformative Tech Accelerators ETF (TEKX) as part of a strategic partnership between SSGA and Galaxy Digital to offer actively managed exposure to digital assets and disruptive technologies. With net assets under management of approximately $94 million as of late 2025 and a gross expense ratio of 0.90%, HECO targets institutional and retail investors seeking thematic equity in the digital asset ecosystem while limiting direct cryptocurrency exposure to 25% indirectly through a Cayman Islands subsidiary. No further major acquisitions, funding rounds, or strategic shifts have been reported since inception.