Galaxy Digital Holdings and Alerian have announced the launch of eight crypto-focused blockchain indexes. The indexes are rebalanced and equally weighted on a monthly basis.
According to a press release dated Aug. 24, the two have developed two crypto index families, dubbed “Alerian Galaxy Global Blockchain Indexes” and “Alerian Galaxy Global Cryptocurrency-Focused Blockchain Indexes,” under which the eight offers are included.
The passive indexes provide exposure to “public corporations and select investment vehicles” involved in the crypto and blockchain sectors, such as crypto miners, companies with cryptocurrency on their balance sheets, infrastructure tech providers, and blockchain academics. The indexes are rebalanced and equally weighted on a monthly basis.
“At Galaxy Digital, our goal is to continue to empower investors by providing smooth, institutional, and innovative entry points to the burgeoning digital asset ecosystem,” stated Steve Kurz, Partner and Head of Asset Management.
The Alerian Galaxy Global Cryptocurrency-Focused Blockchain CRYPTE Index is one of the eight new products, and it covers crypto enterprises including Square Inc, Coinbase, Voyager Digital, Argo Blockchain, and Marathon Digital, to name a few.
While the Alerian Galaxy Global Blockchain Index (BCHAIN) follows Microsoft, Grayscale’s Bitcoin and Ethereum Trusts, Facebook, and Mastercard, the Alerian Galaxy Global Blockchain Index (BCHAIN) tracks Microsoft, Grayscale’s Bitcoin and Ethereum Trusts, Facebook, and Mastercard. BLKCHN, CRYPTP, and BLKCNP are among the other indexes included.
Galaxy recently expanded its capabilities by partnering with Bloomberg to develop a DeFi index that tracks companies like Uniswap (UNI), Aave (AAVE), and Compound (COMP) (COMP).
Galaxy first teamed with Bloomberg in 2018 to produce a crypto benchmark index that analyzes the liquidity of 10 of the most popular cryptocurrencies.
Galaxy recorded a $175.8 million loss in the second quarter. Mike Novogratz, the firm’s founder and CEO, was unaffected by the results on a conference call about them.
He noted growing counterparty trade volume and strategic blue-chip collaborations as reasons to stay bullish, and stated that adoption was the goal.
“We see the adoption struggle as a tougher, stickier, and longer-term financial impact than short-term pricing movements,” he said.
