Reuters, Bloomberg And TradingView To Add New Cryptocurrency Index (#GotBitcoin?)
The financial terminals of Thomson Reuters and Bloomberg will soon provide cryptocurrency data from an index that takes into account social media posts and news. Reuters, Bloomberg And TradingView To Add New Cryptocurrency Index (#GotBitcoin?)
Announced Thursday, index provider Cryptoindex said terminal users will be able to view the top 100 performing cryptocurrencies, according to its rankings. Cryptoindex comprises of crypto assets that have occupied a position in the top 200 for over three consecutive months, are “almost always traded on multiple exchanges” and have a “significant social media following.”
Rebalancing of the Cryptoindex occurs on a monthly basis and is designed to spot trading data that has been inflated, the firm said.
Popular traders’ social networking and data analysis site TradingView will also add the index as an additional choice for its users.
VJ Angelo, CEO of Cryptoindex, said:
“The index is the culmination of three decades experience in the financial services industry building indices. I have witnessed first hand the growing demand for high-quality insight into the traditionally opaque and misunderstood area of cryptocurrency, which led me to create Cryptoindex. Our index takes into account collective sentiments expressed on social media, in addition to complex data analysis of volume trades and predictive analytics.”
The Cryptoindex is built from an analysis of over 1,800 cryptocurrencies that are passed through set of filters, according to the firm.
A company representative told CoinDesk in an email that its data is collected from cryptocurrency exchanges, news sources and social media sites, such as Twitter, Telegram, GitHub, and others.
“Over 33 Terabytes of data is analysed to extract over 200 factors that create a refined ranking in the index, which is then put into a neural network to create a final rating of coins,” according to the release.
The news comes soon after data site CoinMarketCap was also added to the Bloomberg and Reuters terminals, as well as Nasdaq.
Cryptoindex said its product offers “a methodology fully suited to the needs and requirements of heavily regulated asset managers, institutional and professional investors.”
S&P Dow Jones Indices Launches New Cryptocurrency Indexes
The S&P Cryptocurrency Broad Digital Market Index is being launched alongside four other benchmarks that track cryptocurrencies based on market capitalization.
S&P Dow Jones Indices, the leading index provider of some of the world’s largest equity benchmarks, has launched a new cryptocurrency index that tracks the performance of the broader digital asset market.
The S&P Cryptocurrency Broad Digital Market Index, or BDM, tracks more than 240 digital assets at launch and represents an expansion of the firm’s recently launched crypto benchmarks.
In addition to BDM, the company also launched four other crypto-focused indexes on Tuesday, each tracking various components of the broad digital market benchmark. These include:
* S&P Cryptocurrency LargeCap Index
* S&P Cryptocurrency BDM Ex-MegaCap Index
* S&P Cryptocurrency BDM Ex-LargeCap Index
* S&P Cryptocurrency LargeCap Ex-MegaCap Index
All the indexes rely on pricing information from Lukka, a crypto-focused data provider, to determine the composition of each respective benchmark.
“The expansion of our Digital Market Indices family gives one of the broadest snapshots yet of this rapidly growing asset class with the ability to slice and dice by market cap,” said Peter Roffman, the global head of innovation and strategy at S&P Dow Jones Indices.
S&P Dow Jones Indices first revealed its intent to track cryptocurrency prices in December 2020. Indexes tracking the price of Bitcoin (BTC) and Ether (ETH) debuted in May of this year.
By recognizing cryptocurrencies and developing pricing benchmarks for investors to use, Dow Jones Indices brings a new level of legitimacy to the evolving digital asset market. For many investors in the cryptocurrency space, broader recognition from Wall Street could catalyze the sector to new highs in terms of adoption and value.
Reuters, Bloomberg And TradingView, Reuters, Bloomberg And TradingView
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