Cryptocurrency asset manager Grayscale Investments has teamed up with Bloomberg to establish a fresh digital assets-based index that tracks firms associated with the crypto space, TheBlockCrypto reported.
The Bloomberg Grayscale Future of Finance Index or the BGFOF tracks 22 firms involved with crypto-linked equities, along with other companies in the broader space of financial technology.
The index will provide indirect exposure to crypto-linked equities, which will be rebalanced on a quarterly basis. These cover a number of segments such as exchanges, asset management, mining, and blockchain technology.
The index will cover both US and non-US digital asset-based securities, in line with Grayscale’s exchange-traded fund strategy, which covers the conversion of its flagship Bitcoin Trust into a Bitcoin ETF.
The BGFOF will track firms said to have a “pivotal role” in the revenue growth of the digital economy. BTF is up 0.80%, and BITQ is flat premarket; BTC is down 0.24%.