Investorideas.com
Search  Follow Investorideas on Twitter  Investorideas is on Facebook  Investorideas is on Google Plus  Investorideas is on Youtube  Investorideas is on Pinterest  Investorideas is on tumblr  Investorideas is on LinkedIn  Investorideas RSS 


Investorideas podcasts on iTunes, Google Play Music and iHeart.com    Bitcoin and Blockchain Stocks    Play by Play – the latest sports headlines and sports stock news

 

Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner

#Bloomberg And Galaxy Digital Capital Management Launch #Cryptocurrency Benchmark Index

New Market Measure Will Provide Transparent Benchmarking for Cryptocurrency Investors

 

NEW YORK - May 9, 2018 (Investorideas.com Newswire) Bloomberg, together with Galaxy Digital Capital Management LP, a leading digital asset management firm founded by Michael Novogratz, today launched the Bloomberg Galaxy Crypto Index (BGCI). The index is designed to track the performance of the largest, most liquid portion of the cryptocurrency market. The BGCI is market capitalization-weighted and measures the performance of ten USD-traded cryptocurrencies, including Bitcoin, Ethereum, Monero, Ripple, and Zcash. The index constituents are diversified across different categories of digital assets, including stores of value, mediums of exchange, smart contract protocols, and privacy assets.

The creation of the index marks an important step in the evolution of the digital assets space, facilitating diversified exposure as well as independent benchmarking for investors, the companies said. The BGCI utilizes a rules-based methodology and data from sources that have passed both Bloomberg and Galaxy Digital Capital Management's due diligence processes.

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 Alan Campbell, Global Product Manager for Bloomberg Indices. "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."

Michael Novogratz, CEO and Founder of Galaxy Digital Capital Management, 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."

The BGCI contains the following ten cryptocurrencies at inception:

Current Cryptocurrency Weightings

Bitcoin 30.00%

Ethereum 30.00%

Ripple 14.14%

Bitcoin Cash 10.65%

EOS 6.11%

Litecoin 3.77%

Dash 1.67%

Monero 1.66%

Ethereum Classic 1.00%

Zcash 1.00%.

For additional information on the methodology, rebalancing, pricing, and governance of the BGCI, visit: Bloombergindices.com

Bloomberg clients can access the index using the ticker BGCI Index.

About Bloomberg

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Terminal. Bloomberg's enterprise solutions build on the company's core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit Bloomberg.com/company or request a demo.

About Galaxy Digital Capital Management LP

Galaxy Digital Capital Management LP is a diversified asset management firm dedicated to the digital currency and blockchain sectors. The firm manages capital on behalf of external clients in three distinct business lines: Index Fund Management, Blockchain Ecosystem Funds, and Opportunistic Funds. Galaxy Digital Capital Management's multi-disciplinary team has deep experience across active and passive portfolio management, capital markets, operations, and blockchain technology. The firm was founded by Michael Novogratz, a former Principal and Chief Investment Officer of the Fortress Macro Funds, and a former Partner at Goldman Sachs.

Bloomberg Media Contacts

Beatrice Broderick, Prosek Partners, +1-857-301-6949, bbroderick@prosek.com

Galaxy Digital Capital Management LP Media Contact

Fiona Choi, +1-212-390-9194, Fiona.Choi@galaxydigital.io

SOURCE: Bloomberg


Investorideas.com features content for Bitcoin, Blockchain and Digital Currency Stocks and ICO's at Cryptocurrencyinvestorideas.com, Blockchaininvestorideas.com and Investorideas.com

View our growing Bitcoin, Blockchain and Digital Currency Stocks Directory

http://www.investorideas.com/Bitcoin-Cryptocurrency/Stocks_List.asp

Join our LinkedIn Group Blockchain and Digital Currency Stocks and ICO's

  • Latest News and Commentary https://www.linkedin.com/groups/13560073

    Check out our crypto blog on blogger.com

    https://cryptoandblockchainideas.blogspot.com/

    Recently added

  • Bitcoinandblockchainstocks.com at http://www.bitcoinandblockchainstocks.com/



  • More Info:

    Investorideas.com Newswire

    This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders

    Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire http://www.investorideas.com/News-Upload/

    Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.