Galaxy Digital and Alerian announced the launch of eight crypto indexes

By&nbspClark

Galaxy Digital and Alerian proclaimed the launch of eight passive crypto indexes that are rebalanced monthly and weighted equally.

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

According to an Aug 24 announcement, the pair have launched 2 crypto index families named “Alerian Galaxy Global Blockchain Indexes” and also the “Alerian Galaxy international Cryptocurrency-Focused Blockchain Indexes,” with the eight offerings listed underneath.

The passive indexes supply exposure to “public corporations and choose investment vehicles” that are actively engaged within the crypto and blockchain sectors, like crypto miners, corporations that hold crypto on their balance sheets, infrastructure school developers and blockchain researchers. The indexes are rebalanced monthly and equally weighted.

“Our goal is to still empower investors with seamless, institutional, and innovative access points to the rising digital assets system,” 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, that tracks crypto companies like Square INC, Coinbase, Voyager Digital, Argo Blockchain and Marathon Digital holdings to name a couple of.

While the Alerian Galaxy Global Blockchain Index (BCHAIN) tracks Microsoft, Grayscale’s Bitcoin and Ethereum Trusts, Facebook and Mastercard. Different Indexes enclosed are BLKCHN, CRYPTP and BLKCNP.

Earlier this month Galaxy expanded its offerings via a partnership with Bloomberg to launch a DeFi index that tracks companies like Uniswap (UNI), Aave (AAVE) and Compound (COMP).

Galaxy at first partnered with Bloomberg back in 2018 to unleash a crypto benchmark index that tracks ten of the highest cryptocurrencies in terms of liquidity.

Cointelegraph reported on Aug. 18 that Galaxy announced a Q2 loss of $175.8 million. Speaking in an exceedingly call concerning the results, the firm’s founder and corporate executive Mike Novogratz was unfazed by the results. He cited factors like raised counterparty mercantilism volume and strategic valuable partnerships as reasons to stay optimistic and aforesaid the goal was adoption.

“We read the adoption battle as a tough one, stickier, and more financially impactful over time than short worth moves,” he said.