Galaxy Digital Holdings, the cryptocurrency bank owned by Michael Novogratz, has announced it has teamed up with Alerian and S-Network Global indexes to launch eight cryptocurrency-focused blockchain indexes, Cointelegraph has reported.
According to the announcement shared yesterday, the two companies have launched two families of cryptocurrency indexes named "Alerian Galaxy Global Blockchain Indexes" and "Alerian Galaxy Global Cryptocurrency-Focused Blockchain Indexes," encompassing 8 indexes in total.
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These indexes, which are passive, offer their investors exposure to "select public companies and investment vehicles" actively involved in the cryptocurrency and blockchain sectors.
Notably, the indexes are rebalanced monthly and are equally weighted.
One of the new indexes is the Alerian Galaxy Global Cryptocurrency-Focused Blockchain CRYPTE Index, which tracks crypto-related companies such as Square Inc or Coinbase.