Grayscale, FTSE Russell Launch Crypto Indices
U.S. digital currency asset manager Grayscale Investments has introduced five crypto sector indices along with FTSE Russell, less than two months after winning court backing to create an exchange-traded fund based on spot bitcoin.
The SEC had rejected the move, but a federal appeals court ruled that the regulator was wrong. The decision, along with filings by asset managers like BlackRock and Invesco, has boosted sentiment in the crypto markets.
The SEC is not planning to appeal the court ruling, boosting hopes that the filings could be approved soon. The FTSE-Grayscale indices will track the performance of crypto assets in five categories: currencies, smart contract platforms, financials, consumer and culture, and utilities and services.
(With inputs from Shikha Singh)
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