Amid increasing interest in the cryptocurrency markets, Bloomberg, the global leader among market data providers and index services, has launched the Bloomberg Galaxy Crypto Index (BGCI), which is “designed to track the performance of the largest, most liquid portion of the cryptocurrency market.”
Market-Cap Weighted: The First Major Crypto Index
The BGCI is a market cap-weighted index, which implies that cryptocurrencies with higher market cap will have a higher weight in the index. BGCI will consist of up to a maximum of 12 cryptocurrencies that are traded in U.S. dollars. At the launch, it has 10 cryptocurrencies including bitcoin, ethereum, monero, ripple and ZCash. The index constituents cover various facets of cryptocurrencies that include mediums of storage of monetary value and mediums of value exchange (for instance, bitcoin), smart contract protocols (ethereum), and privacy-focused digital assets (monero). (See also: The Five Most Private Cryptocurrencies.)
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