An investment company known for its recent efforts register a cryptocurrency-pegged exchange-traded fund has launched a suite of price indexes targeting mainstream investors. VanEck's MVIS is the First Major Index Provider to Offer Digital Asset (Crypto) Indices according to a press release.
VanEck's MV Index Solutions (MVIS) is offering an array of 12 crypto indexes for single coins like Ripple and Ethereum in addition to four other basket indexes featuring at least five to one hundred digital currencies. A partnership with CryptoCompare – an established London-based digital asset data provider actualized the indices from conception.
The indices dubbed MVIS CryptoCompare Digital Assets Indexes satisfy the investment's industry benchmarking standards. The firm plans to capture the asset management industry by accurately tracking the performance of an otherwise fragmented global digital assets markets.
Gabor Gurbacs, Director of Digital Asset Strategy at VanEck, with close to $38 billion under management said:
"VanEck (MVIS' parent company) is committed to support long-term, structural innovation in the asset management industry. High quality digital asset indices are among the first building blocks in a series of market structure oriented digital asset initiatives."
The series of indices incorporate trade data from over 50 major digital asset exchanges globally using a methodology that weights prices by volume every 24 hours. The full list of indices can be seen here.
According to SEC filings seen in August, New York based Vaneck Associates Corp. attempted to create the "VanEck Vectors Bitcoin Strategy ETF" - an investment vehicle made up of bitcoin derivatives products. Weeks late VanECK withdrew their application citing an inadequate state of cryptocurrency derivatives.
VanEck confirmed it still has its eyes set on an ETF following the latest announcement by the CME Group of an impending bitcoin futures market later this month.
"The logical step once the bitcoin futures market exists is to reevaluate whether it's suitable to refile the ETF. We're hoping to raise further awareness of digital assets as an emerging asset class and hope to create high-level institutional content and materials for investors and anyone interested."