Galaxy Digital Holdings has partnered with Alerian and S-Network Global Indexes to launch eight blockchain indexes with a focus on crypto.
According to an announcement on August 24, these two have launched two crypto index families named “Alerian Galaxy Global Blockchain Indexes” and “Alerian Galaxy Global Cryptocurrency-Focused Blockchain Indexes”, under which the eight offerings run.
The passive indices give investors the opportunity to invest in “listed companies and selected investment vehicles” that have an active exposure to crypto and blockchain. These include crypto miners, companies that keep crypto on their balance sheets, infrastructure technology developers and blockchain researchers. The indices are rebalanced every month and weighted equally.
“Our goal is to provide investors with seamless, institutional and innovative access points to the emerging ecosystem of digital assets,” 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, which tracks crypto companies such as Square Inc, Coinbase, Voyager Digital, Argo Blockchain and Marathon Digital Holdings.
The Alerian Galaxy Global Blockchain Index (BCHAIN) tracks Microsoft, Grayscale’s Bitcoin and Ethereum Trusts, Facebook and Mastercard. Other indices are BLKCHN, CRYPTP and BLKCNP.
Earlier this month, Galaxy expanded its offering as part of a partnership with Bloomberg. A DeFi index was launched that tracks projects such as Uniswap (UNI), Aave (AAVE) and Compound (COMP).
Galaxy worked with Bloomberg back in 2018 to release a crypto benchmark index that tracks the top 10 cryptocurrencies in terms of liquidity.
In this context: Bloomberg strategist: 30-year US bonds bullish for Bitcoin
Cointelegraph reported Aug. 18 that Galaxy posted a loss of $ 175.8 million in the second quarter. In a conference on these results, the company founder and CEO Mike Novogratz said they would leave him indifferent. He said that, for example, the higher counterparty trading volume and the strategic blue-chip partnerships are reasons to remain bullish. He also said the goal was acceptance.
“The fight for acceptance is tough and difficult and has greater financial implications than short-term price movements,” said Novogratz.