Bloomberg and Digital Asset Manager Galaxy Digital Capital Management has just launched Bloomberg Galaxy Crypto Index (BGCI) to track the performance of 10 Cryptocurrency traded against the USD.
BGCI Index is a market capitalization that measures the performance of 10 Cryptocurrency: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), EOS, Litecoin (LTC), Dash, Monero (XMR), Ethereum Classic ETC), and Zcash (ZEC).
Index creation will facilitate diversified exposure to crytocurrency as well as provide independent benchmarks and institutional "ratings" for investors.
BGCI uses rules based on methodology and data verified by Bloomberg and Galaxy Digital Capital Management.
Bloomberg Global Product Manager Alan Campbell said the launch of Bloomberg Galaxy Crypto Index is a reflection of the growing interest of market participants against cryptocurrency.
Head of Galaxy Digital Capital Management's asset management Steve Kurz added "an independent index, rule-based methodology provides a strong foundation on which the cryptocurrency ecosystem will continue to grow and mature".