Grayscale Investments, the largest global crypto asset manager, and Bloomberg have announced in a press release the launch of the Bloomberg Grayscale Future of Finance Index (BGFOF), which is focused on the growth of finance, technology, and digital assets within the digital economy.
The index is constructed utilizing Bloomberg’s methodology of theme baskets to build a universe of securities that combines the transparent creation process with the knowledge of markets that Grayscale and Bloomberg both bring. Companies included in the basket that makes up the index represent at least one of the three main focuses of the fund: financial foundations, technology solutions, and digital asset infrastructure.
“As transformative technologies continue to develop and revolutionize financial markets, we expect investor interest in those innovations will increase rapidly,” said Dave Gedeon, global head of multi-asset indices at Bloomberg. “With the launch of the Bloomberg Grayscale Future of Finance Index, investors now have a best-in-class benchmark to measure the performance of their current and potential investments in the space.”
Collectively the securities within the index represent the future of finance and have been projected by Bloomberg Intelligence analysts to drive growth within the digital space and will play a key role in revenue growth for digital assets in the next two years.
“The Bloomberg Grayscale Future of Finance Index was uniquely designed as the first structure leveraging analyst oversight to track companies and technologies shaping the future of financial services,” said Michael Sonnenshein, CEO of Grayscale, in the press release. “We’re excited to partner with Bloomberg for the launch of this future-forward index, offering investors a seamless way to track the advancements of companies that are building the infrastructure underpinning our digital economy.”
The index will be rebalanced quarterly and currently has 22 companies that it tracks. At launch, companies within BGFOF include a mixture of exchanges, miners, companies utilizing blockchain technologies, fintech, and other representational segments of the digital economy. These companies include Paypal (PYPL), Coinbase Global (COIN), Block Inc (SQ), Silvergate Capital (SI), Argo Blockchain PLC (ARB), Plus500 (PLUS), and others.
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