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Crypto asset manager Grayscale Investments revealed on Tuesday five crypto sector indexes in partnership with FTSE Russell, a subsidiary of London Stock Exchange Group (OTCPK:LDNXF) (OTCPK:LNSTY).
The new indices track the performance of various crypto sectors and includes coverage of more than 150 protocols. They will be reassessed on a quarterly basis.
The crypto sector indices include:
- FTSE Grayscale Currencies Crypto Sector Index, which includes: digital currency assets that serve at least one of three fundamental roles – as a medium of exchange, store of value, and unit of account;
- FTSE Grayscale Smart Contract Platforms Crypto Sector Index, which includes crypto assets that serve as the baseline platforms, upon which self-executing contracts are developed and deployed;
- FTSE Grayscale Financials Crypto Sector Index, which includes crypto assets that seek to deliver financial transactions and services;
- FTSE Grayscale Consumer & Culture Crypto Sector Index, which includes crypto assets that support consumption-centric activities across a variety of goods and services; and
- FTSE Grayscale Utilities & Services Crypto Sector Index, which includes crypto assets that aim to deliver practical and enterprise-level applications and functionalities.
The alliance comes as Grayscale seeks to convert to Grayscale Bitcoin Trust (OTC:GBTC) into an exchange-traded fund.
“Investors have increasingly expressed interest in diversifying beyond crypto’s largest assets, Bitcoin and Ethereum, and many look to Grayscale to better understand this robust, evolving asset class,” said Grayscale Investments CEO Michael Sonnenshein.
