In Brief:
- Grayscale Investments and Bloomberg launched the Future of Finance Index.
- The index is built using Bloomberg Intelligence‘s proprietary theme basket methodology.
- It tracks the rapidly evolving digital economy and currently includes 22 companies.
Grayscale Investments, the world’s largest crypto asset manager, and Bloomberg have partnered to track the rapidly growing digital economy – specifically the confluence of technology, finance, and digital assets. In the latest press release, they jointly announced the launch of the Bloomberg Grayscale Future of Finance Index.
The index is built using Bloomberg Intelligence’s proprietary theme basket methodology, combining a rigorous data-driven and transparent build process with the market expertise of Grayscale and Bloomberg.
The Future of Finance Index will track 22 companies associated with several crypto-linked equities as well as other firms in the fintech space. The index currently does not directly invest in digital assets or their derivatives but offers indirect exposure to crypto-linked equities. These equities will be rebalanced quarterly and cover market segments such as asset management, mining, exchanges, and blockchain technology, among others.
The included companies will contribute significantly to the growth of the digital economy and its overall revenue in the next two years. Furthermore, companies that represent the “Future of Finance” in the final basket are categorized by three key pillars: digital asset infrastructure, financial foundations, and technology solutions.
Bloomberg clients can access the index using the ticker the Bloomberg Grayscale Future of Finance Index (BGFOF), and access historical data through December 2020.
Dave Gedeon, Global Head of Multi-Asset Indices at Bloomberg said that with the launch of BGFOF Index, investors now have a world-class benchmark to measure the performance of their current and potential investments in the fintech space.
CEO of Grayscale, Michael Sonnenshein, showed satisfaction in partnership with Bloomberg saying that the Bloomberg Grayscale Future of Finance Index was uniquely designed as the first structure leveraging analyst oversight to track technologies and companies shaping the future of financial services.
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He further said – “We’re excited to partner with Bloomberg for the launch of this future-forward index, offering investors a seamless way to track the advancements of companies that are building the infrastructure underpinning our digital economy.”
