Galaxy backs USHP, the first digital asset for US home prices

The US housing market is worth roughly $55 trillion. It’s also one of the hardest asset classes to get simple index-level exposure to. Galaxy Digital is betting $50 million that a new digital asset can change that. Galaxy announced its commitment to USHP, a project that bills itself as the first digital asset designed to track US home prices through a daily predictive index and an associated on-chain token. What USHP actually is USHP is, at its core, two things: a daily predictive index of US home prices and a token that tracks that index. The index is built by Index Industries, which serves as the technology provider and infrastructure layer for the project. Importantly, Index Industries is not the issuer of the token itself. The token is issued by USHP Ltd., a subsidiary of the USHP Foundation based in the Cayman Islands. That structure matters because it determines who can actually buy the thing. USHP is explicitly not offered or sold to US persons or within the United States. The asset is designed exclusively for eligible non-US investors. Why this matters for real estate exposure If you want exposure to the aggregate US housing market without actually buying a house, your opti...