FTSE Russell announced on Tuesday the launch of its first multi-asset, market cap index series covering the digital asset market.
What Happened: The newly launched FTSE Global Digital Asset Index series covers eight indices from micro-cap to large and is the second FTSE Russell index series based on FTSE DAR Reference price data.
“We are pleased with the progress the FTSE Global Digital Asset Index Series launch represents for our digital asset capability, as transparency in this asset class becomes more important than ever,” FTSE Russell CEO Arne Staal said.
“FTSE Russell has taken a measured approach to this frontier investment space and has built a rigorous and transparent framework, underpinned by robust governance and comprehensive data to meet investor needs, both where they are now and as they prepare for change in this market,” he added.
The FTSE Global Digital Asset Index Series was developed to provide the data infrastructure and governance to serve client investment and analysis needs.
Why It Matters: The development of instruments to gauge the performance of digital assets, such as Bloomberg Galaxy Crypto Indices and S&P Cryptocurrency Indices, has been prompted by the recent increase in interest in the cryptocurrency sector.
The adoption of the gauges will reveal whether the downturn in the cryptocurrency market over the past year and corporate instability, notably this month's failures of FTX and BlockFi, have soured investors' desire for digital assets.
FTSE Russell is behind the benchmark FTSE 100 stock index of the London Stock Exchange. Among its additional indices is the Russell 2000.
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