Bitcoin (Bitcoin) bull and independent research boutique, Fundstrat, has revealed its new five indexes to monitor cryptocurrencies, Bitcoin.com reports.
Aimed at institutional investors, FS Crypto FX indexes are the most recent and prominent speculation instruments and a first for Wall Street insiders.
Fundstrat's indexes track a total of 630 digital currencies, divided into five groups by market capitalization and trading volume: FS Crypto 10 (10 largest and most liquid digital currencies including Bitcoin, Ethereum (ETH/USD), Ripple, Litecoin (LTC/USD), Dash, IOTA and Monero (XMR/USD)), FS Crypto 40 (top 11 to 50 digital currencies by market value and liquidity including NEM, Bitconnect and Lisk), FS Crypto 250 (top 51 to 300 cryptocurrencies by market value and liquidity including BitcoinDark, Singular DTV and FirstCoin), FS Crypto 300 (300 largest digital currencies by market value and liquidity), FS Crypto Aggregate (performance of 630 digital currencies).
Investors can analyze the relative performance of different digital currencies within the indexes, similar to how the advance-decline line of the number of S&P 500 (INDEX: SPX) stocks rising versus falling on a given day can indicate the health of the market.
Fundstrat said it uses a proprietary algorithm to determine the weighting of each coin in an index, which is reconstituted every quarter. The indexes are intended for research right now, rather than supporting any investment products.