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 Cash
- Ethereum Classic
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.