Galaxy Digital Established A DeFi Fund

Galaxy Digital established a DeFi fund. The company has created a DeFi fund called Galaxy DeFi Index Fund.

Cryptocurrency company Galaxy Digital, together with Bloomberg, launched the Bloomberg Galaxy DeFi Index (DEFI) today. Galaxy Digital's fund platform Galaxy Fund Management has created a DeFi fund called Galaxy DeFi Index Fund, which monitors the performance of the DEFI index. It was stated that the index in question was developed to measure the performance of the largest decentralized finance (DeFi) protocols by market value, which provide financial services without a central financial intermediary such as brokerage houses, stock markets or banks. The assets added to the index and their weights were as follows:

• UNI Uniswap 40.0%
• AAVE AAVE 18.0%
• MKR Maker 12.7%
• COMP Compound 10.0%
• YFI Yearn.Finance 5.4%
• SNX Synthetix 5.0%
• SUSHI SushiSwap 4.3%
• ZRX 0x 2.8%
• UMA UMA 1.8%

Alan Campbell, Director of Product Management, Multi-Asset Indices at Bloomberg, said, “Decentralized finance is emerging as the next major investment theme in the cryptocurrency market. As liquidity and institutional custody solutions continue to grow, DeFi is an increasingly attractive option for institutional investors. We will continue to work with Galaxy." He added, “Galaxy continues to lead organizations that want to be open to innovations in the cryptocurrency ecosystem. The blockchain-based infrastructure behind DeFi is maturing and clear examples of how this new technology can revolutionize the financial services landscape in real time,” said Steve Kurz, Galaxy Digital Partner and Head of Asset Management. This partnership with Bloomberg and our DeFi index fund provides investors with data and tools that provide well-planned investment exposure for the future of financial services.”