In Brief:
- Galaxy Digital and Alerian announced the launch of eight passive crypto indexes.
- The company will weigh them equally and rebalance them monthly.
- The principal goal behind launching the indexes is to take advantage of the growing crypto investor base.
Galaxy Digital has partnered with Alerian and S-Network Global Indexes to launch eight crypto-focused blockchain indexes. The alliance have launched two crypto index families named “Alerian Galaxy Global Blockchain Indexes” and the “Alerian Galaxy Global Cryptocurrency-Focused Blockchain Indexes” that lists the eight offerings under it.
The eight passive indexes are completely transparent. These work on certain rules. The passive indexes offer exposure to “public companies and select investment vehicles”. These include the companies that are actively engaged in the crypto and blockchain sectors, such as crypto miners, companies that hold crypto on their balance sheets, infrastructure tech developers and blockchain researchers.
The company will rebalance the indexes monthly and will weigh them equally in order to provide a diversified portfolio to represent the entire crypto ecosystem. The primary goal behind launching the indexes is to take advantage of the growing crypto investor base.
“Our goal is to continue to empower investors with seamless, institutional, and innovative access points to the emerging digital assets ecosystem,” said Steve Kurz, Partner and Head of Asset Management at Galaxy Digital.
Among the eight new products is the Alerian Galaxy Global Cryptocurrency-Focused Blockchain CRYPTE Index. The index tracks crypto firms such as Square Inc, Coinbase, Voyager Digital, etc. While the Alerian Galaxy Global Blockchain Index (BCHAIN) tracks Microsoft, Grayscale’s Bitcoin and Ethereum Trusts, Facebook and Mastercard. Other Indexes included are BLKCHN, CRYPTP and BLKCNP.
Galaxy digital, previously, teamed up with Bloomberg For new DeFi Index. The Index will track the most valuable decentralised finance (DeFi) protocols in terms of market capitalization. As reported earlier, Galaxy saw a $175 million loss in it Q2 report.
