CoinMarketCap is Set to Launch Crypto Indices on NASDAQ, Bloomberg, and Others

According to a recent blog post by CoinMarketCap, they will be launching two cryptocurrency indices on NASDAQ GIDS, Bloomberg Terminals, Thomson Reuters Eikon (Refinitiv), and Börse Stuttgart. These are all major financial platforms that will bring more attention and eyeballs to the cryptocurrency market.

Date: 
March 21, 2019
Read time: 
3 minutes

CoinMarketCap is Set to Launch Crypto Indices on NASDAQ, Bloomberg, and Others

Author: Michael R.
Date: 
March 21, 2019
Read time: 
3 minutes

According to a recent blog post by CoinMarketCap, they will be launching two cryptocurrency indices on NASDAQ GIDS, Bloomberg Terminals, Thomson Reuters Eikon (Refinitiv), and Börse Stuttgart. These are all major financial platforms that will bring more attention and eyeballs to the cryptocurrency market.

According to a recent blog post by CoinMarketCap, they will be launching two cryptocurrency indices on NASDAQ GIDS, Bloomberg Terminals, Thomson Reuters Eikon (Refinitiv), and Börse Stuttgart. These are all major financial platforms that will bring more attention and eyeballs to the cryptocurrency market.

We are excited to launch and share these indices with the market. These indices will promote greater accessibility to cryptocurrency data in an easier-to-digest format. (Brandon Chez, CoinMarketCap CEO)

There will be two indices to help users quickly gain a sense of where the market is moving. The indices will cover 200 cryptocurrencies weighted by market capitalization. One index will be called CMC Crypto 200 Index (CMC200) which includes Bitcoin in its basket. The second is CMC Crypto 200 ex BTC Index (CMC200EX), which does not include Bitcoin.

CoinMarketCap is partnering with Solactive to be their index administrator and provider, helping to professionally calculate the indices.

CoinMarketCap CEO, Brandon Chez commented by saying:

We are excited to launch and share these indices with the market. These indices will promote greater accessibility to cryptocurrency data in an easier-to-digest format. In partnership with Solactive, our chosen index administrator, we hope these professionally-calculated indices will serve to expand the reach of cryptocurrencies into the larger financial markets.

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Meanwhile, Fabian Colin, the head of sales at Solactive AG seems equally as excited:

We are very proud to be chosen as CMC’s index provider of choice in this exciting journey. The ability to access CoinMarketCap data gives us the opportunity to develop custom indices for new clients. Conversations have already started. We are looking forward to developing more crypto indices in the future, which will optimistically result in investable indices and might lead to further products.”

The indices will be rebalanced on the last day of each calendar quarter. If a cryptocurrency is no longer eligible to be part of the basket, then that will be announced along with a replacement for the next schedule rebalancing.

CoinMarketCap has been a pioneer in the space since their launch in 2013, and they continue to impress the industry. If you are unfamiliar with the blockchain industry and want to get involved before things really boom, check out our guides to get started.

Posted by Michael R.

Michael is an entrepreneur who has been deeply involved in the cryptocurrency industry since early 2014. He joined Cryptomaniaks as a cryptoanalyst, helping to create accurate and digestible content.

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