Bloomberg Will Launch a Crypto Index

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Financial firm Bloomberg is set to launch a cryptocurrency index together with Galaxy Digital Capital Management.

The Bloomberg Galaxy Crypto Index (BGCI) is set to track the most liquid portion of the crypto market. The Index will list down the following tokens:

  • Bitcoin
  • Bitcoin Cash
  • Dash
  • EOS
  • Ethereum Classic
  • Litecoin
  • Monero
  • Ripple
  • Zcash

Alan Campbell, the Global Product Manager for Bloomberg Indices, said that the move to launch a crypto index is a reflection of the firm’s clients’ interest in cryptocurrency.

According to Michael Novogratz, Head of Galaxy Digital Capital Management, the new index is a statement for institutional accounts to begin treating cryptocurrencies as a new asset class.

While both Bloomberg and Galaxy decline to reveal how they track the crypto prices, they are confident that that BGCI will become a benchmark for the global cryptocurrency market.

Source: Coindesk, Cointelegraph

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Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]

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