Galaxy Digital and Alerian Joins Hands to Introduce Eight Crypto Indexes

Sahaj  |  Aug 25, 2021

Galaxy Digital Holdings has recently teamed up with Alerian and S-Network Global indexes to introduce eight blockchain indexes based on crypto. The announcement made on August 24, revealed that the duo has introduced two crypto index families named Alerian Galaxy Global Cryptocurrency-Focused Blockchain Indexes and Alerian Galaxy Global Blockchain Indexes, which the eight offerings are listed under.

Galaxy Digital Partners Alerian to Launch Crypto Indexes

As revealed in the announcement, the passive indexes offer exposure to public firms and select investment vehicles that are actively involved in the crypto and blockchain sectors, such as crypto miners, companies that have crypto on their balance sheets, blockchain researchers, and infrastructure tech developers. 

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

"Our goal is to continue to empower investors with seamless, institutional, and innovative access points to the emerging digital assets ecosystem."

One of the eight new products is the Alerian Galaxy Global Cryptocurrency-Focused Blockchain CRYPTE Index, which keeps a track of crypto firms such as, Marathon Digital Holdings, Coinbase, Voyager Digital, Argo Blockchain, Square Inc.

While the Alerian Galaxy Global Blockchain Index (BCHAIN) keeps a track of Microsoft, Bitcoin, and Ethereum Trusts of Grayscale, Mastercard, and Facebook and other indexes included are CRYPTO, BLKCNP, and BLKCHN.

Galaxy Posts Loss in Q2

On August 18, Galaxy reported that it has posted a loss of $175.8 million in the second quarter.

Mike Novogratz, the CEO of Galaxy Digital spoke regarding the results in a conference call and was unfazed by the results. 

In addition to this, he also mentioned factors such as increased counterparty trading volume and strategic blue-chip partnerships as reasons to remain bullish and revealed that adoption was the major goal.

Addressing the difficulty in adoption, he said:

“We view the adoption battle as a hard one, stickier, and more financially impactful over time than short-term price moves.”

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