{"id":3460,"date":"2018-05-09T09:00:01","date_gmt":"2018-05-09T13:00:01","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg_galaxy_launch_cryptocurrency_index\/"},"modified":"2018-05-09T09:00:01","modified_gmt":"2018-05-09T13:00:01","slug":"bloomberg_galaxy_launch_cryptocurrency_index","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg_galaxy_launch_cryptocurrency_index\/","title":{"rendered":"Bloomberg and Galaxy Digital Capital Management Launch Cryptocurrency Benchmark Index"},"content":{"rendered":"
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New Market Measure Will Provide Transparent Benchmarking for Cryptocurrency Investors.<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n

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New York – Bloomberg,\u00a0together 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.<\/p>\n

 <\/p>\n

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.<\/p>\n

 <\/p>\n

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.<\/p>\n

\u201cToday\u2019s launch of the Bloomberg Galaxy Crypto Index reflects our clients\u2019 growing interest in cryptocurrencies,\u201d said Alan Campbell, Global Product Manager for Bloomberg Indices. \u201cThe 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.\u201d<\/p>\n

Michael Novogratz, CEO and Founder of Galaxy Digital Capital Management, said, \u201cThe 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.\u201d<\/p>\n

Steve Kurz, Head of Asset Management at Galaxy Digital Capital Management, added, \u201cWe are thrilled to partner with Bloomberg on the BGCI.\u00a0 The index\u2019s independent, rules-based methodology provides a strong foundation on which the cryptocurrency ecosystem will continue to grow and mature.\u201d
\nThe BGCI contains the following ten cryptocurrencies at inception:<\/p>\n

Current Cryptocurrency \u200b\u200bWeightings
\nBitcoin \u200b\u200b\u200b\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a030.00%
\nEthereum\u200b\u200b\u200b\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a030.00%
\nRipple\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 14.14%
\nBitcoin Cash\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a010.65%
\nEOS\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 6.11%
\nLitecoin\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 3.77%
\nDash\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a01.67%
\nMonero\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 1.66%
\nEthereum Classic\u00a0 \u00a0 \u00a0 \u00a0 \u00a01.00%
\nZcash\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 1.00%<\/p>\n

For additional information on the methodology, rebalancing, pricing, and governance of the BGCI, visit: Bloombergindices.com<\/a><\/p>\n

Bloomberg clients can access the index using the ticker BGCI <F10 Index> <GO>.<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n

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About Bloomberg<\/strong>
\nBloomberg, 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\u2019s strength \u2013 delivering data, news and analytics through innovative technology, quickly and accurately \u2013 is at the core of the Bloomberg Terminal. Bloomberg\u2019s enterprise solutions build on the company\u2019s 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<\/a> or request a demo<\/a>.<\/p>\n

About Galaxy Digital Capital Management LP
\n<\/strong>Galaxy Digital Capital Management LP is a diversified asset management firm dedicated to the digital currency and blockchain sectors.\u00a0 The firm manages capital on behalf of external clients in three distinct business lines: Index Fund Management, Blockchain Ecosystem Funds, and Opportunistic Funds.\u00a0 Galaxy Digital Capital Management\u2019s multi-disciplinary team has deep experience across active and passive portfolio management, capital markets, operations, and blockchain technology.\u00a0 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.<\/p>\n

Bloomberg Media Contacts<\/p>\n

\u2022 US, Alyssa Gilmore, +1-212-617-4901, agilmore7@bloomberg.net
\n\u2022 Asia, Grace Ngoh, +65-62313690, gngoh2@bloomberg.net
\n\u2022 EMEA, Anna Schoeffler, +44 20 3525 0776, aschoeffler1@bloomberg.net
\n\u2022 LATAM, Pam Snook, +212-617-7652, pamsnook@bloomberg.net<\/p>\n

Galaxy Digital Capital Management LP Media Contact<\/p>\n

\u2022 Fiona Choi, +1-212-390-9194, Fiona.Choi@galaxydigital.io<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bloomberg,\u00a0together with Galaxy Digital Capital Management LP, today launched the Bloomberg Galaxy Crypto Index (BGCI). 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