Firm Behind FTSE 100 Unveils Crypto Index Series
FTSE Russell, the company behind the London Stock Exchange's benchmark FTSE 100 equity index, has rolled out a set of measures for the digital asset market.
The FTSE Global Digital Asset Index Series comprises eight gauges ranging from large and mid-cap assets down to micro cap.
The indexes, developed with Digital Asset Research, will monitor data from hundreds of exchanges to "define the investable universe," FTSE Russell said Tuesday. The firm unveiled a plan to roll out a crypto index last December, when it announced the development of one covering 43 digital assets.
Growth of interest in the crypto industry in recent years has spurred the development of instruments to measure the performance of digital assets, including Bloomberg Galaxy Crypto Indices, S&P Cryptocurrency Indices and CoinDesk's own family of market indexes. Take up of the gauges will help indicate whether the appetite for digital assets has been soured by the decline in the crypto market in the past year and upheaval among companies including this month's collapses of FTX and BlockFi.
FTSE Russell is a London Stock Exchange Group subsidiary. Its other indexes include the Russell 2000.