Popular cryptocurrency asset manager, Grayscale has announced a collaboration with FTSE Rusell to advance its crypto investment services. The company made the announcement today via its official X (formerly Twitter) page. As revealed, the collaboration is aimed at providing more investment opportunities beyond Bitcoin and Ethereum for Grayscale clients.
Also, as a result of the collaboration, Grayscale introduced a new framework to set the standard for crypto investments. The framework is identified as the FTSE Grayscale Crypto Sector Index Series (Crypto Sector Indices). According to the post, the firm referred to the newly introduced standard as a “comprehensive set of five distinct rules-based indices capturing the investable crypto market of Grayscale Crypto Sectors.”
The Crypto Sector Indices are Currencies, Smart Contract Platforms, Financials, Consumer & Culture, and Utilities & Services. Furthermore, Grayscale indicated that the five indices cover more than 150 protocols. In a bid to reflect the dynamic nature of the crypto market, the investment firm vows to quarterly reassess all indices.
More so, the partnership will focus on helping investors to segment and understand the cryptocurrency market. Consequently, the partners promise to introduce more tools and structures to monitor “themes, risks, and opportunities of the asset class. Accordingly, the aforementioned support according to Grayscale will help investors make informed decisions.
Opinions on the Collaboration Between Grayscale and FTSE Russell
The CEO of Grayscale Investments, Michael Sonnenshein provided more insights into the collaboration. According to the CEO, investors are looking up to the company to understand the crypto market. Due to that, investors have shown interest in diversifying their investments beyond Bitcoin and Ethereum. Sonnenshein said that the Crypto Sector Indices formalized the company’s “specialized view” of the crypto market.
Additionally, the CEO expressed his delight in the collaboration with FTSE Russell. Lastly, he disclosed that the efforts of the two partners will bring the “rigor of traditional finance to crypto.” Similarly, Fiona Bassett, the CEO of FTSE Russell also indicated her excitement over the partnership with Grayscale. She highlighted how transparency and governance can help gain trust in the financial market.
Likewise, the CEO discussed how the partnership has created a “sector-defining” approach to capture innovation that’ll aid improved decision-making in the crypto market. She expressed confidence in how the Crypto Sector Indices can aid investors in making decisions with clarity and conviction.