Galaxy Digital’s newest fund targets the growing interest of institutional investors in DeFi projects.
Bloomberg announced today, together with Galaxy Digital, the expansion of its crypto offering with the introduction of the Bloomberg Galaxy DeFi Index (ticker: DEFI). Parallel to the introduction of the index, Galaxy Digital’s fund platform, Galaxy Fund Management, is now offering the Galaxy DeFi Index Fund, a passively managed fund that tracks the performance of the DEFI.
The Bloomberg Galaxy DeFi Index, on which the new fund is based, puts investors on nine Ethereum-based DeFi governance tokens: Uniswap, Aave, Maker, Compound, Yearn.Finance, Synthetix, SushiSwap, 0x, and UMA. The largest weight, namely 40%, is currently attributable to Uniswap’s UNI token, the largest DeFi token with a market capitalization of USD 15.5 billion.
Steve Kurz, Partner and Head of Asset Management at Galaxy Digital, said:
“Galaxy continues to pioneer institutions that want to participate in innovations in the crypto ecosystem. The blockchain-based infrastructure behind DeFi is maturing faster and faster, and clear examples are emerging in real time of how this new technology can transform financial services. This partnership with Bloomberg and our DeFi index fund provides investors with data and tools that enable calculated exposure to the future of financial services. ”
Alan Campbell, director of product management for Bloomberg’s multi-asset index business, said:
“Galaxy continues to pioneer institutions looking to explore innovations in the crypto ecosystem. The blockchain-based infrastructure behind DeFi is maturing faster and faster and clear examples are emerging in real time of how this new technology can disrupt financial services. ”This partnership with Bloomberg and our DeFi Index Fund provides investors with data and tools that enable a calculated commitment to the future of financial services. “
Galaxy Digital already offers several cryptocurrency funds. Including for Bitcoin and Ethereum. The Crypto Index Fund also mixes Bitcoin Cash, Litecoin and EOS. It has over $ 1.6 billion in assets under management. The DeFi fund offers the opportunity to diversify its product range.
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