VanEck subsidiary MV Index Solutions has partnered with CryptoCompare to launch a set of 12 indices that track different cryptocurrencies.
The MVIS CryptoCompare Indices track the performance of “the otherwise fragmented global digital assets markets” and creates benchmarks that meet industry standards “expected from a regulated, unaffiliated, major benchmark provider”, according to a statement.
The indices include bitcoin, bitcoin cash, ethereum, litecoin, ripple, zcash and a number of other cryptocurrencies.
MVIS managing director Thomas Kettner called digital assets a “dynamic area that merits attention”, particularly for professional investors.
“Although not without risks, digital assets have the potential to integrate into the broad economy and become an investable asset class in their own right,” Mr Kettner said.
“MVIS is at the forefront of these market developments.”
VanEck director of digital asset strategy Gabor Gurbacs said VanEck, MVIS’ parent company, was committed to supporting 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,” he said.
In September, VanEck withdrew an application to Securities and Exchange Commission (SEC), the American regulatory equivalent of ASIC, to create a cryptocurrency-pegged ETF.
The SEC also rejected another US firm's application for a rule change to allow bitcoin ETFs on the basis that the bitcoin exchange was unregulated and lacked surveillance-sharing agreements.
VanEck declined to comment when asked if it had any plans to launch an Australian-domiciled cryptocurrency ETF.
Investor confidence is on the rebound and the ASX hit a 12-year high on Monday. But it’s not all good news for the Australian economy. ...
While the Asia-Pacific region, excepting Japan, saw the world’s strongest dividend growth in the past decade, Australia has barely shown a...
One fund manager will release a new exchange-traded fund that will provide investors access to one of the fastest growing economies in the w...