Streamex Secures First $1M Institutional Allocation for GLDY Token
STEX sits 55% above its 52-week low of $0.572.
Summary
Streamex has secured its first institutional allocation of $1 million into GLDY, its gold-backed token, through Metalayer Capital's Aureon Relative Value Fund. The strategy uses GLDY as the long leg of a delta-neutral gold trade, pairing it with a short position in gold-linked perpetual futures to earn the token's 3.5% annual yield. This marks a shift from retail to institutional demand, validating the token's appeal beyond accredited individuals. The allocation adds to GLDY's assets under management, on which Streamex earns fees. Follow-on investments are anticipated but not guaranteed. This follows the company's August 90-day goal of converting first institutional allocations, and comes amid ongoing material weaknesses and a cash position of $5.6M as of Q2.
At the time of this announcement, STEX was trading at $0.89 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $97.1M. The 52-week trading range was $0.57 to $7.19. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: FinanceWire.