Bloomberg Terminal Expands Crypto Coverage to Top 50 Coins

Bloomberg has expanded its Terminal service to include 50 crypto assets in a bid to provide better data to its clients in the institutional investment space.

Popular cryptocurrencies bitcoin, Ethereum, Binance Coin, XRP, Solana are among those included. Terminal clients will now be able to monitor intraday pricing for these cryptos, indices, and futures contracts in real-time.

Bloomberg Terminal originally began offering data on bitcoin prices in 2013. At this point, the asset was trading at around $100, before a massive surge to over $1,100 by the end of that year. 

Then, in 2018 the company expanded Terminal coverage to the top ten crypto assets by market capitalization due to increased institutional interest. 

“Our mission is to help the global institutional investor community to seamlessly incorporate digital assets into their workflows in a trusted and familiar way, on the Terminal,” said Alex Wenham, product manager for cryptocurrencies at Bloomberg.

 “As this market develops, we will continue to evolve our data-driven offerings to help our clients define and develop their strategies in this space.”

Bloomberg selection criteria highlighted

Prior to including the top 50 crypto assets, Bloomberg would augment its selection incrementally, such as with the addition of Cardano last year. The announcement also highlighted the process Bloomberg undergoes in its selection of what assets to provide data for. 

Listing criteria include assessments of institutional custody support, trading access, market capitalization, and consistency of turnover.

Last year, Bloomberg launched the Bloomberg Galaxy DeFi Index, a decentralized finance (DeFi) index fund, in partnership with Galaxy Digital. The passively-managed fund tracks the performance of nine DeFi tokens. 

The composition includes Uniswap’s UNI (40%), AAVE (18%), Maker MKR (12.7%), Compound’s COMP (10)%, Yearn Finance YFI (5.4)%, Synthetix SNX (5)%, SushiSwap SUSHI (4.3)%, 0x Protocol’s ZXR (2.8)%, and UMA (1.8%). 

The financial services company collaborated on a crypto index, the Bloomberg Crypto Index, in 2018 to track the most liquid tokens in crypto markets.

The post Bloomberg Terminal Expands Crypto Coverage to Top 50 Coins appeared first on BeInCrypto.

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