Grayscale and FTSE Russell launch a new crypto index company
An alliance to capture the dynamics of the crypto market
The recent announcement of the partnership between Grayscale Investments and FTSE Russell represents a significant milestone for the crypto ecosystem. FTSE Russell, the index division of the London Stock Exchange parent company, and Grayscale, one of the leading crypto asset managers, are joining forces to create a new company specialized in crypto indices.
Five indices for different crypto sectors
The collaboration has unveiled five major indices that will track the performance of different categories of crypto assets. These categories include currencies, smart contract platforms, finance, consumers and culture, as well as utilities and services. Some of these indices may even serve as a basis for exchange-traded products, such as ETFs.
This initiative comes as Grayscale is considering converting its Grayscale Bitcoin Trust (GBTC) into an ETF. It’s worth noting that the current indices that serve as the basis for GBTC and the Grayscale Ethereum Trust are provided by CoinDesk Indices, a division of CoinDesk. However, this partnership with FTSE does not involve this division.
Investors have increasingly expressed interest in diversifying beyond the most prominent cryptocurrency assets. Many turn to Grayscale for better understanding this robust and evolving asset class. Grayscale Crypto Sectors formalizes our specialized vision of the cryptocurrency landscape.
Michael Sonnenshein, CEO of Grayscale
Responding to the growing interest of investors
Michael Sonnenshein, CEO of Grayscale, highlighted the increasing interest of investors in diversifying beyond the main crypto assets. For him, this new project called “Grayscale Crypto Sectors” responds to this demand by offering a specialized vision of the crypto landscape.
Meanwhile, FTSE Russell, based in London, is already a major player in the index market, with approximately $20 trillion of referenced assets. The construction of these crypto indices is provided by Digital Asset Research, a New York-based crypto information provider.