Source: Adobe / Ascannio
Grayscale Investments, a major US digital asset management firm, has joined forces with FTSE Russell, the index division of the London Stock Exchange-owner LSE Group.
According to an announcement from the two companies, the partnership aims to introduce a new crypto index business under the name FTSE Grayscale Crypto Sector Index Series.
The new indexes will offer insights into various crypto sectors, including cryptocurrencies, smart contract platforms, financials, consumer and culture, and utilities and services, the announcement said.
The digital asset universe is ever-expanding. Grayscale Crypto Sectors is a new framework designed to set the standard for organizing the crypto asset class.
— Grayscale (@Grayscale) October 24, 2023
The indexes are intended to monitor and showcase the performance of different sectors within the crypto landscape, catering to the evolving interests of investors.
Notably, the strategic collaboration comes as Grayscale seeks to transition its Grayscale Bitcoin Trust (GBTC) into an Exchange-Traded Fund (ETF).
In a comment, Grayscale CEO Michael Sonnenshein emphasized the growing enthusiasm among investors to diversify beyond the more established crypto assets.
“Grayscale Crypto Sectors formalizes our specialized view of the crypto landscape, and we are thrilled to partner with FTSE Russell to make this framework actionable in the form of indices,” Sonnenshein said, while adding:
“Together, our brands will bring the rigor of traditional finance to crypto.”
The new crypto indexes are developed in collaboration crypto data provider Digital Asset Research.
The post Grayscale Forms Strategic Alliance with FTSE Russell for Innovative Crypto Index Venture appeared first on Cryptonews.