certify
Home arrow Article arrow Article Detail

Galaxy Digital and Bloomberg partners for the DeFi benchmark

Profile Image

Pavan A Follow

INDIA

Aug, 26 2021

Aug, 26 2021

likes | comments 0

Article Image

On Thursday, Bloomberg announced that it would launch an index currently tracking the performance of nine different decentralized finance (DeFi) projects with Galaxy Digital Management, expanding their crypto offering.

 

According to Bloomberg, the decentralized finance projects were chosen on the basis of institutional trading, quality of pricing and custody readiness in the US.

 

These projects include Uniswap (UNI), Aave (AAVE), Yearn. Finance (YFI), Maker (MKR), 0x (ZXR), Compound (COMP), Synthetic (SNX), SushiSwap (SUSHI), and Uma (UMA).

 

"Decentralized finance is growing as the next major investment theme within crypto," said Alan Campbell, Head of Product Management for Bloomberg's Multi-Asset Index business. "As liquidity and institutional custody solutions continue to grow, DeFi has become an increasingly compelling option for institutional investors, and we'll continue working with Galaxy to expand our crypto index offering."

 

"Galaxy continues to pioneer inroads for institutions seeking exposure to the innovation happening within the crypto ecosystem," said Steve Kurz, Partner and Head of Asset Management at Galaxy Digital.

 

"The blockchain-based infrastructure behind DeFi is maturing at an accelerating rate and clear examples of how this new technology can disrupt financial services are emerging in real-time. This partnership with Bloomberg and our DeFi Index Fund provides investors with data and tools that deliver calculated exposure to the future of financial services."

 

The announcement comes three years after Mike Novogratz’s Galaxy Digital, first joined forces with Bloomberg, a global business and financial news giant to create a new crypto index tied to decentralized finance. DeFi Crypto Index Fund has been created for this new index and is operated by fund manager Bitwise.


likes | comments 0

Profile Image

Pavan A

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
Aave Acquires Social Metaverse Developer Sonar to Expand Lens Protocol

Aave, a leading open-source, decentralized finance protocol is expanding into Web3 consumer products. The company recently announced their purchase of Sonar, a social gaming application that...;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.