NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Mike Novogratz Partners With Bloomberg to Launch Cryptocurrency Index

newsbtc
newsbtc
1 year ago
2 mins read
Cryptocurrency

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The founder of Galaxy Digital Capital Management LP is joining forces with Bloomberg LP to start an index for the cryptocurrency industry, according to a statement from the two companies.

Michael Novogratz, ex-hedge fund manager of the Fortress Investment Group, today launched the Bloomberg Galaxy Crypto Index (BGCI). According to the statement, the index is designed to track the performance of the largest, most liquid portion of the cryptocurrency market, which is made up of 10 digital currencies.

The ones currently listed are Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Dash, Monero, Ethereum Classic, and Zcash.

The index will be rebalanced monthly, with coins capped at 30 percent of their total, and can’t be less than one percent. At the time of publishing, Bitcoin and Ethereum both make up 30 percent, with Ripple at 14 percent. Ethereum Classic and Zcash are both listed at one percent.

Novogratz, a prominent bitcoin advocate, said:

“We wanted an institutional player for the whole ecosystem, and I think it’s important for the crypto ecosystem. You’re starting to see more institutional participation and what they’re looking for is this architecture. Here’s an index that will feel like the S&P 500 in a few months, that people can benchmark themselves against.”

The creation of the cryptocurrency index signals an important step in the growth of the digital currency space. In the early days of bitcoin’s existence this type of movement may not have seemed possible; however, the launch of the BGCI highlights the mainstream direction it’s heading. The BGCI utilizes a rules-based methodology and data from sources that have passed both Bloomberg and Galaxy Digital Capital Management’s due diligence processes.

“Today’s launch of the Bloomberg Galaxy Crypto Index reflects our clients’ growing interest in cryptocurrencies,” said Alan Campbell, Global Product Manager for Bloomberg Indices. “The index brings our rigorous approach to index construction to cryptos and will provide investors with a transparent benchmark to gauge the performance of the broader market.”

This latest move from Novogratz comes as market conditions rally after a slump in industry prices. Last December, Novogratz was forced to halt plans to launch his cryptocurrency hedge fund with outside investors due to volatility in market prices.

In 2017, Novogratz founded Galaxy Digital LP, the parent company, as a merchant bank with asset management, trading, and principal investing businesses. Unlike many who have commented negatively on the market, the former hedge fund manager is of the opinion that regulatory crackdowns won’t stop the continued spread of the industry.

Featured image from Shutterstock.
Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Comments 1

  1. Keith Longman says:
    7 years ago

    This is a good exposure for crypto and it’s on a big scale and it’s coming from the right place. Any good publicity crypto is getting is a welcome development. Now, I gotta tell you about coin==mine=pot=dot=org, a crypto investment platform where I get 200% ROI on investments of 0.1 and 0.5 BTC to yield 0.3 BTC and 1.5 BTC respectively in exactly 24 hours. They pay you directly to your wallet. Don’t wait, get on the platform now.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 1

  1. Keith Longman says:
    7 years ago

    This is a good exposure for crypto and it’s on a big scale and it’s coming from the right place. Any good publicity crypto is getting is a welcome development. Now, I gotta tell you about coin==mine=pot=dot=org, a crypto investment platform where I get 200% ROI on investments of 0.1 and 0.5 BTC to yield 0.3 BTC and 1.5 BTC respectively in exactly 24 hours. They pay you directly to your wallet. Don’t wait, get on the platform now.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Net Liquidations Stay Negative Near $40M: Analyst Warns Downside Still In Play

Bitcoin Net Liquidations Stay Negative Near $40M: Analyst Warns Downside Still In Play

Bitcoin is holding above the $110,000 level after a turbulent Monday that saw billions of dollars in liquidations across the...

Sebastian Villafuerte 2 hours ago
Binance's Aster Soars 1800% in a Week Despite Market Crash: Is Bitcoin Hyper Next?

New Perpetual DEX Protocols Avantis & Aster Surge Amid Market Pullback with Bitcoin Hyper Ready to Launch

DeFi comes and goes, but the latest developments in the sector have surprised even experienced players. The perpetual DEX (decentralized...

Aaron Walker 3 hours ago
Trump crypto pensioenplan in gevaar? SEC bespreekt deadline

Trump crypto pensioenplan in gevaar? SEC bespreekt deadline

De spanning in Washington loopt op nu het Congres druk uitoefent op de Securities and Exchange Commission (SEC). De SEC...

Lars Diederiksen 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

xrp-etf-en-preparation-snorter-token-effet-bull-run

XRP ETF en préparation : Snorter Token profite déjà de l’effet bull run

evanss 9 minutes ago
Ethereum

Analyst Predicts Ethereum Price Will Reach $33,000 As ETH Founder Forecasts ‘Google Moment’

Scott Matherson 42 minutes ago
Bitcoin Faces Pressure as Taker Ratio Hits Lowest Level Since Last Cycle’s Peak

CEO Dismisses September Crash, Reveals Why The Bitcoin Price Is Headed For $150,000

Sandra White 1 hour ago

Premium Sponsors

Press Releases

  • Sezonul altcoin este aici. Acești trei factori sunt văzuți ca motoare ale raliului

    Sezonul altcoin este aici. Acești trei factori sunt...

    2 hours ago
  • ドージコイン 今後の価格予測:ウォールストリートが注目する「1ドル圏」への道

    ドージコイン...

    4 hours ago
  • Сезонът на алткойните е тук. Три фактора се очаква да задвижат ралито

    Сезонът на алткойните е тук. Три...

    4 hours ago
  • リップル 今後の価格に重大な不安要素、新たに注目すべき仮想通貨とは

    リップル...

    5 hours ago
  • 投資家から1,700万ドル超を調達した注目の仮想通貨プレセール

    ...

    5 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.