Grayscale Investments, a U.S. company specializing in managing cryptocurrency assets, has teamed up with FTSE Russell, the index division of the London Stock Exchange’s parent company, LSE Group to launch a new venture focused on cryptocurrency indexes.
In this partnership, they have introduced five different indexes that track the performance of various crypto sectors, such as digital currencies, smart contract platforms, financial-related crypto assets, those related to consumer and culture, and utility and service-focused cryptocurrencies. These indexes can be used as the foundation for creating investment products like Exchange-Traded Funds (ETFs).
This collaboration is significant because Grayscale is currently looking to change its Grayscale Bitcoin Trust (GBTC) into an ETF.
Grayscale Investments and FTSE Russell are teaming up to make it easier for investors to understand and study the world of cryptocurrencies. Over time various systems will help people keep track of themes, risks and opportunities of the asset class, proceeding more informed investing decisions.
Grayscale CEO Michael Sonnenshein said in a statement,“Investors have increasingly expressed interest in diversifying beyond crypto’s largest assets, “Many look to Grayscale to better understand this robust, evolving asset class.”