Via an official press release, Bloomberg has announced it will partner once again with Galaxy Digital to launch the Bloomberg Galaxy DeFi Index (DEFI).
In addition, the global company also informed that the Galaxy DeFi Index Fund, a passively managed fund tracking the performance of DEFI, was available on Galaxy Digital’s funds platform and Galaxy Fund Management.
The Partnership is Great for Galaxy
The Bloomberg Galaxy DeFi Index is designed to measure the performance of the largest DeFi protocols by market value that offer financial services without a central financial intermediary like banks, brokerages, or exchanges.
In addition to being owned by Bloomberg Index Services Limited, it is also branded with Galaxy.
The new index will be responsible for tracking a list of nine DeFi tokens, including Uniswap (UNI), Aave (AAVE), Maker (MKR), Compound (COMP), 0x (ZXR), UMA (UMA), Yearn.Finance (YFI), Synthetix (SNX), and SushiSwap (SUSHI).
The Bloomberg-Galaxy Crypto Indices
The latest launch of the DeFi index is also the addition to the growing list of the Bloomberg-Galaxy family of Indices.
In 2018, the partnership of Bloomberg and Galaxy introduced the Bloomberg-Galaxy Crypto Indices with the Bloomberg-Galaxy Crypto Index (BGCI, a market capitalization-weighted index that measures the performance of the largest digital assets traded in USD.
Later, both companies launched the Bitcoin (BTC) and Ethereum (ETH) Indices, designed to measure the performance of a single bitcoin or Ether traded in USD.
Bloomberg is a global company involved in business and financial information, as well as news. It connects people with a dynamic network of information, people, and ideas.
By taking advantage of technology, the company offers customers abilities to access, integrate, distribute, as well as manage data and information across organizations more efficiently and effectively.
Galaxy Digital is a company that provides investment management and financial services related to cryptocurrency, blockchain, and digital assets.
Through institutional-grade investment vehicles, its platform Galaxy Fund Management offers