Bloomberg and Galaxy Team Up on Decentralized Finance Index

Galaxy Digital has teamed up with Bloomberg to launch a new crypto index tied to decentralized finance or DeFi. The new index will track nine DeFi tokens to start, and will also serve as the basis for a new passively-managed fund by Galaxy. In 2018, Bloomberg and Galaxy launched the Bloomberg Crypto Index, comprised of the market's most liquid tokens including bitcoin and ether. Both indexes are owned and administered by Bloomberg, which determines the product's constituent assets.