Galaxy Digital partners with Alerian to launch eight crypto indexes

Galaxy Digital Holdings has teamed up with Alerian and S-Network Global indexes to launch eight crypto-focused blockchain indexes.

According to an Aug. 24 announcement, the duo have launched two crypto index households named “Alerian Galaxy Global Blockchain Indexes” and the “Alerian Galaxy Global Cryptocurrency-Focused Blockchain Indexes,” which the eight choices are listed below.

The passive indexes provide publicity to “public corporations and choose funding autos” which are actively engaged within the crypto and blockchain sectors, akin to crypto miners, corporations that maintain crypto on their steadiness sheets, infrastructure tech builders and blockchain researchers. The indexes are rebalanced month-to-month and equally weighted.

“Our purpose is to proceed to empower traders with seamless, institutional, and progressive entry factors to the rising digital property ecosystem,” mentioned Steve Kurz, Partner and Head of Asset Management at Galaxy Digital.

Among the eight new merchandise is the Alerian Galaxy Global Cryptocurrency-Focused Blockchain CRYPTE Index, which tracks crypto companies akin to Square Inc, Coinbase, Voyager Digital, Argo Blockchain and Marathon Digital holdings to identify just a few.

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.

Earlier this month Galaxy expanded its choices through a partnership with Bloomberg to launch a DeFi index that tracks tasks akin to Uniswap (UNI), Aave (AAVE) and Compound (COMP).

Galaxy initially partnered with Bloomberg again in 2018 to launch a crypto benchmark index that tracks 10 of the highest cryptocurrencies when it comes to liquidity.

Related: Bloomberg strategist explains why 30-year US bonds have ‘bullish implications’ for Bitcoin

Cointelegraph reported on Aug. 18 that Galaxy posted a Q2 lack of $175.8 million. Speaking in a convention name concerning the outcomes, the agency’s founder and CEO Mike Novogratz was unfazed by the outcomes. He cited components akin to elevated counterparty buying and selling quantity and strategic blue-chip partnerships as causes to stay bullish and mentioned the purpose was adoption.

“We view the adoption battle as a tough one, stickier, and extra financially impactful over time than short-term worth strikes,” he mentioned.

Recommended For You

About the Author: Daniel