Diversified

Diversified

Index methodology constructed with Bloomberg to capture the overall market cap growth of the asset class through the largest and most liquid digital assets

Current portfolio captures digital stores of value, Web 3.0, and payments use cases

Rule-based

Rule-based

Bloomberg Galaxy Crypto Index methodology selects “blue-chip” assets.

Index and fund portfolio re-balance monthly.

Composition will evolve over time in accordance with the index methodology as new winners are selected into portfolio, while losers are kicked out.

Institutional caliber

Institutional caliber

Premier service providers, including Bakkt and Fidelity.

Digital Assets for bitcoin custody, Bloomberg for bitcoin pricing, and Deloitte US for audit.

Powered by Galaxy Digital

Powered by Galaxy Digital

200+ person global platform.

Significant domain expertise in both asset management and digital assets.

Own the market cap growth of digital assets

Digital Store of Value
Web 3.0
Payments
Digital store of value

Digital store of value

Digitally scarce assets / Digital gold.

Market cap growth opportunity from $210B to $9T1.

asset: Bitcoin

Web 3.0

Web 3.0

Decentralized internet and a more efficient operating system.

Base layer to Web 3.0 applications, internet gaming, etc.

Ethereum as global decentralized super computer.

assets: Ethereum, EOS

Payments

Payments

Creative disruption to replace SWIFT payments systems (e.g., JPM Coin).

New global payment ideas taking hold (e.g., Facebook / Libra).

Cross-border payments system development.

assets: Litecoin, Bitcoin Cash

Composition

Fund weightings

As of August 2021
Index Weightings
40% Bitcoin
40% Ethereum
8.38% Bitcoin Cash
8.39% Litecoin
3.23% EOS
Historical

Performance

As of June 2021

Time

1 Month
3 Month
6 Month
1 Year
2 year
Fund ITD2
index ITD3

BGCI

-10.5%
-12.71%
90.58%
456.1%
238.8%
140.1%
879.13%

1) Figures as of May 31, 2021 2) Fund inception: May 18, 2018 3) The BGCI launched on May 9, 2018; however, Bloomberg published back-dated pricing data back to August 2, 2017. The performance mark “Index ITD” is as of August 2, 2017. Sourced: Bloomberg

Past performance of the Bloomberg Cryptocurrency Fixing Rate is not indicative of future results. The performance of the Fund will vary from the performance of the Bloomberg Cryptocurrency Fixing Rate. Performance of the Bloomberg Cryptocurrency Fixing Rate varies depending on the length of time period analyzed, which could result in returns that are greater or less than the percentages shown above

Opportunity set

Digital store of value

The global macro picture is bleak, with coordinated central bank monetary stimulus, significant corporate debt defaults looming, and continued uncertainty surrounding the COVID-19 pandemic pushing investors to inflation hedging assets (e.g. gold prices up 41% since the start of 2018).

Total Bitcoin supply cap: 21 million
Today
PerformancePerformance
2009
2012
2015
2018
2021
2024
2027
2030
2033
2036
2042
2045
2048
2051
2054
2057
2060
2063

Source: Galaxy Digital Research

Galaxy Crypto Index Fund

The Bloomberg Galaxy Crypto Index (BGCI) is a benchmark designed to measure the performance of the largest cryptocurrencies traded in USD. The Index is owned and administered by Bloomberg and co-branded with Galaxy Digital Capital Management.

01

Key features

Pricing sources assessed for risk and suitability.

Calculated using Bloomberg Crypto Price Fixings (CFIX).

Rebalanced and reconstituted monthly.

Rules-based methodology.

Leverages strengths of Bloomberg LP – data, pricing, analytics, distribution, and research.

02

Guiding principles

Data Integrity: pricing sources selected for liquidity and reliability.

Diversification: no protocol can exceed 30% or be less than 1% of portfolio capitalization.

Representative: provides proxy for broader market.

Continuity: intended to respond to changing nature of market in manner that does not completely reshape character of the data set from year to year.

03

Selection of assets

Minimum two eligible pricing sources meeting Bloomberg ’s due diligence criteria.

Minimum 30-day median daily value traded of $2M across min of two eligible pricing sources.

Free-floating pricing (not pegged to value of any asset, including another digital asset).

Asset must meet above eligibility for three consecutive monthly rebalances.

Maximum constituents limited to top twelve by market capitalization.

Hard forks considered with same criteria as existing assets.

Fund information

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Eligibility Requirements

Accredited Investor - You are accredited as an individual if you made over $200,000 in the last two calendar years (or $300,000 with your spouse), or if you have greater than $1,000,000 in liquid net worth, excluding your primary residence.

MINIMUM INVESTMENT

$25,000

Unlocked
Asset class
Digital Assets
Pricing source
Bloomberg Galaxy Crypto Index (“BGCI”)
Qualification
Accredited Investors
Performance fee
None
MGMT fee
2.00%
Redemptions
Quarterly: 30-day notice
Subscriptions
Daily
Min. investment
$25K
Index provider
Bloomberg L.P.
Custody
Coinbase
Legal counsel
Barnes & Thornburg LLP
Administrator
MG Stover
Auditor
KPMG
Tax Advisor
Deloitte
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