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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
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
Premier service providers, including Bakkt and Fidelity.
Digital Assets for bitcoin custody, Bloomberg for bitcoin pricing, and Deloitte US for audit.
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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
Digitally scarce assets / Digital gold.
Market cap growth opportunity from $210B to $9T1.
asset: Bitcoin
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
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
Fund weightings
Performance
Time
BGCI
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
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).
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.
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.
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.
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.
