Galaxy Digital and Alerian introduced the launch of eight passive crypto indexes which might be rebalanced monthly and weighted equally.
Based on an Aug. 24 announcement, the duo have launched two crypto index families named “Alerian Galaxy Global Blockchain Indexes” and the “Alerian Galaxy Global Cryptocurrency-Focused Blockchain Indexes,” which are the eight offerings are listed under.
The passive indexes offer publicity to “public companies and select investment vehicles” that are actively engaged in the crypto and blockchain sectors, such as crypto miners, corporations that hold crypto on their steadiness sheets, infrastructure tech developers and blockchain researchers. The indexes are rebalanced monthly and equally weighted.
“Our purpose is to proceed to empower buyers with seamless, institutional, and revolutionary entry factors to the rising digital assets ecosystem,” said Steve Kurz, Partner and Head of Asset Management at Galaxy Digital.
Among the eight new products is the Alerian Galaxy World Cryptocurrency-Centered Blockchain CRYPTE Index, which tracks crypto firms such as Square Inc, Coinbase, Voyager Digital, Argo Blockchain and Marathon Digital holdings to name a few.
Earlier this month Galaxy expanded its offerings via a partnership with Bloomberg to launch a DeFi index that tracks initiatives 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 top cryptocurrencies in terms of liquidity.
Cmnnews reported on Aug. 18 that Galaxy posted a Q2 loss of $175.8 million. Speaking in a conference call regarding the results, the firm’s founder and CEO Mike Novogratz had been unfazed by the results. He cited factors such as increased counterparty trading volume and strategic blue-chip partnerships as causes to stay bullish and stated the purpose was adoption.
“We view the adoption battle as a hard one, stickier, and more financially impactful over time than short-term worth strikes,” he stated.