August 25, 2021 08:23 UTC
August 25, 2021 08:24 UTC
Galaxy Digital and Alertian announced the launch of 8 passive encryption indices, which are rebalanced monthly with equal weights.
Galaxy Digital Holdings collaborated with Alerian and S-Network International Index to launch eight crypto-focused blockchain indexes.
According to the announcement on August 24, the pair has launched two encryption index series, named “Alerian Galaxy Global Blockchain Index” and “Alerian Galaxy International Cryptocurrency-focused Blockchain Index”, listed below Eight products.
The passive index provides exposure to “listed companies and investment vehicles of choice” that actively participate in the crypto and blockchain fields, such as crypto miners, companies holding crypto on their balance sheets, infrastructure school developers, and blockchain researchers. These indexes are rebalanced monthly with equal weights.
Steve Kurz, partner and head of asset management at Galaxy Digital, said: “Our goal is still to provide investors with a seamless, institutional and innovative access point to the rising digital asset system.”
Among the eight new products, Alerian Galaxy’s blockchain CRYPTE index, which focuses on global cryptocurrencies, tracks crypto companies such as Square INC, Coinbase, Voyager Digital, Argo Blockchain, and Marathon Digital.
The Alerian Galaxy Global Blockchain Index (BCHAIN) tracks the Bitcoin and Ethereum trusts of Microsoft, Grayscale, Facebook, and Mastercard. The different indexes included are BLKCHN, CRYPTP, and BLKCNP.
Earlier this month, Galaxy expanded its product range through a partnership with Bloomberg, launching a DeFi index that tracks companies such as Uniswap (UNI), Aave (AAVE) and Compound (COMP).
Galaxy initially released a crypto benchmark index in cooperation with Bloomberg in 2018, which tracks the ten most liquid cryptocurrencies.
Cointelegraph reported on August 18 that Galaxy announced a loss of $175.8 million in the second quarter. In an extremely intense conference call about the results, Mike Novogratz, the company’s founder and executive, was not worried about the results. He cited factors such as increased counterparty mercantilist transactions and strategic partnerships as reasons for maintaining optimism, and stated that the goal is adoption.
He said: “We believe that compared to short-term value initiatives, the adoption battle is a difficult, more sticky, and financially more impactful struggle over time.”