The crypto sector index series will include several indices that track the prices of a set of different digital assets based on their use cases.
Grayscale Investments, the world’s largest digital asset manager, continues to take steps to expand its market presence. Furthermore, the latest report shows that grayscale is crypto-indices-product-for-the-next-bull-run” target=”_blank” rel=”nofollow noopener”>to venture in the crypto indices business in partnership with London-based index provider FTSE Russell, a subsidiary of the London Stock Exchange.
Grayscale and FTSE Russell have teamed up to offer a product called the crypto Sector Index Series to market enthusiasts. This product will include several indices that track the prices of a group of different digital assets based on their use cases.
The designated groups will encompass several categories of cryptocurrencies, including those designed for use as a medium of exchange or store of value (such as bitcoin and Litecoin), smart contract platforms (such as Ether, Solana and Polygon), tokens that represent financial services (such as Uniswap, Compound and Curve), digital assets linked to art, games and media (including nft projects) and projects aimed at real-world applications (such as Chainlink, Filecoin and others), as indicated in the announcement.
To ensure fair evaluation of assets within each category, the indices will employ the square root of the market capitalization of each cryptocurrency. This approach mitigates the dominance of highly capitalized assets like bitcoin, giving investors more diversified exposure across the pool.
Grayscale and DCG Lawsuits
The week before, New York Attorney General Letitia James filed a complaint against DCG, Grayscale’s parent company, as well as its Genesis subsidiary, the Gemini cryptocurrency exchange, and people such as former Genesis CEO Michael Moro, and DCG CEO Barry Silbert.
The complaint alleged that both Gemini and Genesis had provided misleading information to the public about their collaborative product, Earn. In this initiative, Gemini extended user funds to Genesis, who, in turn, lent these funds to various counterparties, including crypto trading entities Three Arrows Capital and Alameda Research. Of note, both companies had previously faced a lawsuit from the SEC regarding the Earn product in January, and were embroiled in a legal dispute over liability for user funds that were ultimately lost.
On the other hand, Grayscale has made good progress in its legal battle with the US SEC. Earlier this week, on Monday, the US court asked the SEC to review Grayscale’s request to convert its GBTC product into a spot bitcoin ETF. Furthermore, Grayscale also submitted its application for the ethereum spot ETF to the SEC.
next
Bhushan is a financial technology enthusiast and has a keen knack for understanding financial markets. His interest in economics and finance draws his attention to the new emerging markets of Blockchain technology and cryptocurrencies. He is continually in the learning process and stays motivated by sharing the knowledge acquired. In his spare time he reads suspense and fiction novels and sometimes explores his culinary skills.
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=();t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)(0);
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘846189260537157’);
fbq(‘track’, ‘PageView’);
