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In Collaboration with FTSE Grayscale Launch Cryptocurrency Indices

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Today, October 24, Grayscale Investments, a United States digital currency asset manager, launched five cryptocurrency sector indices in partnership with FTSE Russell. The new launch is a unique structure developed to set a standard for organizing cryptocurrency classes.

Today, the behemoth in cryptocurrency management and indexing industry collaborates to develop tools that can track and evaluate the fast-growing crypto ecosystem.

READ ALSO:30-Year-Old Miami Resident Convicted for Crypto Fraud

Barely two months after the world’s largest cryptocurrency manager, Grayscale Investment, won the court’s support to develop an exchange-traded fund based on Bitcoin, it announced a new framework that can organize the broader cryptocurrency market.

This latest framework will divide the crypto market into five different sectors to aid the investors in gaining insight into the Grayscale unique viewpoint of the asset class.

Fast Facts

  • Previously, the United States Securities and Exchange Commission (SEC) rejected this latest move of Grayscale; however, a federal appeals court ruling said that the SEC was wrong to reject an application from the firm.
  • Although the federal court judgment didn’t mean that the company’s ETF has been approved, the ruling and a series of filings by asset managers such as Invesco and BlackRock have increased the sentiments within the cryptocurrency market.
  • Moreover, the Grayscale versus FTSE indices’ aim is to keep track of the cryptocurrency assets into five categories: currencies, utilities and services, innovative contract platforms, culture and financials.
  • According to Michael Sonnenshein, the CEO of Grayscale Investments, investors have been interested in diversifying more than the top assets like Ethereum and Bitcoin.
  • Moreover, most investors depend on Grayscale to better understand this healthy and ever-changing asset class.

What’s Happening In Crypto Today?

At the time of this writing, Bitcoin is trading at $34,363.78, with a rise in market cap by 12.26% and an increase in trading volume by 180.43%.

On the side of Ethereum, it is changing hands at $1,821.20 while seeing a 9.26% rise in market cap and a 114.10% increase in trading volume.

  • Litecoin, on its side, is currently selling at $70.49 while recording a slight rise in market cap of 6.94% and an increase in trading volume of 54.11%.
  • Bitcoin Cash is trading at $258.82, with a slight increase in market cap by 7.02% and an increase in trading volume by 75.87%.
  • Meanwhile, the price of Shiba Inu right now is at $0.000007573 while seeing a little increase in market cap by 5.39% and an increase in trading volume by 88.15%.
  • Avalanche is presently trading at $10.68, with a bit of a rise in market cap by 7.33% and an increase in trading volume by 49.69%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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