Bloomberg And Galaxy Digital Management To Launch Crypto Benchmark Index

Bloomberg And Galaxy Digital Management To Launch Crypto Benchmark Index

The crypto merchant bank Galaxy Digital Management and Bloomberg have launched a crypto benchmark index by the name Bloomberg Galaxy Crypto Index (BGCI). This index will track the top 10 cryptocurrencies from within the crypto market as reported by Bloomberg on May 9.

Coins that will be listed within this index are Bitcoin (BTC), Ethereum (ETH), Ripple, Bitcoin Cash, ESO, Litecoin, Dash, Monero, Ethereum Classic, and Zcash. This will be the first “institutional benchmark” for the crypto marketplace.

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Alan Campbell, the Global product manager for Bloomberg’s stated that this launch reflects the growing interest in cryptocurrency. This news comes after the announcement of Bitcoin trading contracts by Goldman Sachs last week.

Yesterday, May 8, the owner of the New York Stock Exchange showed great interest in allowing their traders to both buy and sell Bitcoin. 

It seems Wall Street, and the institutional conglomerates they represent, are seeking to get a foothold in the cryptocurrency phenomenon.

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