Galaxy Digital partners with Alerian to launch eight crypto indexes

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Galaxy Digital Holdings has partnered with Alerian and S-Network Global indices to launch eight crypto-focused blockchain indices.

According to an August 24 announcement, the duo launched two families of crypto indices named Alerian Galaxy Global Blockchain Indexes and Alerian Galaxy Global Cryptocurrency-Focused Blockchain Indexes, under which all eight offerings are listed.

Passive indices provide exposure to public companies and selected investment vehicles that are actively engaged in the crypto and blockchain industries, such as crypto miners, companies that hold crypto on their balance sheets, infrastructure technology developers and blockchain researchers. The indices are rebalanced monthly and equally weighted.

“Our goal is to continue to provide investors with transparent, institutional and innovative entry points to the emerging digital asset ecosystem,” 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, which tracks crypto companies such as Square Inc, Coinbase, Voyager Digital, Argo Blockchain and Marathon Digital to name a few.

While the Alerian Galaxy Global Blockchain Index (BCHAIN) tracks Microsoft, Grayscales Bitcoin and Ethereum Trusts, Facebook and Mastercard. The other indexes included are BLKCHN, CRYPTP, and BLKCNP.

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

Galaxy initially partnered with Bloomberg in 2018 to release a crypto benchmark that tracks 10 of the top cryptocurrencies in terms of liquidity.

Related: Bloomberg Strategist Explains Why 30-Year US Bonds Have ‘Bullish Implications’ For Bitcoin

Cointelegraph reported on August 18 that Galaxy recorded a loss of $ 175.8 million in the second quarter. Speaking on a results conference call, company founder and CEO Mike Novogratz was not taken aback by the results. He cited factors such as increased counterparty trade volume and blue chip strategic partnerships as reasons to remain optimistic and said the goal was adoption.

We see the adoption battle as an uphill battle, stickier and more financially impacting over time than short-term price movements, he said.

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