Bloomberg has announced that they have partnered with Galaxy Digital Capital Management LP to launch Bloomberg Galaxy Crypto Index (BGCI). The BGCI will measure the performance of the top ten traded cryptocurrencies and will included vetted data supported by diverse exposure to critical categories. This includes: stores of value, mediums of exchange, smart contract protocols, and privacy assets.
The ten cryptocurrencies that will be included are; Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Dash, Monero, Ethereum Classic and Zcash. The index is owned and administered by Bloomberg Index Services Limited and is co-branded with Galaxy Digital Capital Management. As a new member of the Bloomberg index family, the BGCI offers the first institutional grade benchmark for the cryptocurrency market.
“Today’s launch of the Bloomberg Galaxy Crypto Index reflects our clients’ growing interest in cryptocurrencies,” said Global Product Manager for Bloomberg Indices Alan Campbell. “The index brings our rigorous approach to index construction to cryptos and will provide investors with a transparent benchmark to gauge the performance of the broader market.” CEO and Founder of Galaxy Digital Capital Management Michael Novogratz said, “The Bloomberg Galaxy Crypto Index brings unprecedented transparency to the crypto markets. We are excited to help drive the decentralized revolution forward through the creation of BGCI.”
Steve Kurz, Head of Asset Management at Galaxy Digital Capital Management, added, “We are thrilled to partner with Bloomberg on the BGCI. The index’s independent, rules-based methodology provides a strong foundation on which the cryptocurrency ecosystem will continue to grow and mature.”