FTSE Russell has launched its first index series covering the digital asset market.
The firm said it had worked with crypto pricing and market data firm Digital Asset Research to launch eight indices, ranging from micro to large cap.
The move is the latest sign of the traditional finance world embracing the crypto universe, despite the digital assets industry still suffering shockwaves from the collapse of crypto exchange FTX earlier in November.
FTSE Russell chief executive Arne Staal said: “We are pleased with the progress the FTSE Global Digital Asset Index Series launch represents for our digital asset capability, as transparency in this asset class becomes more important than ever.
Staal said the index provider had taken a “measured approach” to a “frontier investment space”.
The index’s framework would be “rigorous and transparent…underpinned by robust governance” he added.
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The most recent chapter of the 2022 crypto crash has by-and-large not deterred traditional finance players who have already made the decision to dip their toes into digital assets.
BlackRock, the world’s largest asset manager, has started to assess how the plumbing underpinning the crypto market can be applied to its traditional money management business.
“We’re exploring it at the moment,” Stephen Cohen, head of BlackRock’s business across Europe, the Middle East and Africa, told Financial News.
Fidelity’s institutional crypto head told FN earlier this month that the recent upheaval had been a positive for the asset manager, with clients flocking to a traditional finance partner in the crypto space.
The firm had seen “a pretty substantial uptick in client activity and deposits owing to the recent events,” according to Chris Tyrer.
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