Cryptos

Galaxy Digital will introduce Cryptocurrency Indicators in Partnership with Alerian

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Galaxy Digital has Announcement The launch of passive cryptocurrency indicators with Alerian. There are eight passive indexes. Each will be equal in weight and rebalanced each month.

Galaxy Digital Holdings partnered with Alerian Indices, the S-Network Global, and Alerian Indices in order to launch eight crypto-focused Blockchain indices.

Galaxy Digital Holdings Ltd. is a financial and investment management company that provides cryptocurrency and digital asset services. The Company also provides services in the area of ​​blockchain technology with business lines including principal investments, trading operations, advisory and asset management services.

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According to an August 24th announcementeThe duo have created two families of crypto-indexes.

They are called the cryptocurrency-focused Alerian Galaxy Global Blockchain Indices and the Alerian Galaxy Global Blockchain Index. All eight offerings are listed under Alerian Galaxy Global Cryptocurrency-Focused Blockchain Indexes.

Passive indices allow access to a select group of investment vehicles and public companies. Only a few companies and vehicles should be involved in the crypto and blockchain industries, such as cryptocurrency miners.

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Another good example are companies that have crypto on their balance sheets, researchers in blockchain technology, and developers of infrastructure technology. The indices are equally weighted, and rebalanced each month.

Comments from Galaxy Digital’s Head Of Asset Management

Steve Kurz, Partner and Head, Asset Management at Galaxy Digital said:

“We aim to continue to provide investors with the means to access institutional, transparent and innovative access points. We intend to channel it into the future ecosystem of digital assets ”.

The Alerian Galaxy Global Cryptocurrency Blockchain CRYPTE Index was one of the eight products. It tracks crypto companies such Square Inc. and Voyager Digital as well as Coinbase, Marathon Digital holdings, and others.

However, the Alerian Galaxy Global Blockchain Index(BCHAIN) tracks Facebook and Mastercard as well as Grayscale’s Bitcoin and Ethereum Trusts. CRYPTP is BLKCHN and BLKCNP are other indexes.

Galaxy teamed up earlier this month with Bloomberg to create a Defi Index that tracks various projects. These projects include Aave, Uniswap and Compound (COMP).

Galaxy partnered with Bloomberg in 2018 to launch the Crypto Benchmark Index. The index will track the liquidity of the 10 most popular cryptos.

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According to an August 18eReport: Galaxy reported a loss of $ 175.8 millions in the second quarter. Galaxy founder and CEO Mike Novogratz said that he is not bothered about the development.

He cited blue-chip strategic partnerships and increased counterparty trade volume as reasons to be optimistic. He stated that adoption was the ultimate goal.

“We believe that the adoption battle will be more persistent, more difficult, and more financially-impactful than short-term price movements. -Mike Novogratz

At the time of writing, the cryptocurrency market was down by 2%. Source: The Crypto Total Market Cap.| Source: Crypto Total Market Cap on TradingView.com
Featured image taken from The Block chart from TradingView.com

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