Bloomberg to create new crypto-index to track DeFi tokens

The financial information provider will partner with Galaxy Digital to monitor quotes for Uniswap, Aave, Maker, Compound, Yearn, Sushi and other digital coins from decentralized finance.

Bloomberg, one of America’s leading providers of financial information, will partner with Galaxy Digital to create a new cryptocurrency index that will track nine DeFi project tokens.

Defi

DeFi – are financial instruments in the form of services and applications created on the blockchain. The main goal of decentralized finance is to become an alternative to the banking sector and rеplace traditional financial system technologies with open-source protocols.

The new crypto-index will track Uniswap, Aave, Maker, Compound, Yearn, Sushi and other tokens. The index will also be used for a passively managed fund that Galaxy Digital plans to create in the future.

In July, leading exchange-traded index provider S&P Dow Jones Indices announced the launch of the new S&P Cryptocurrency Broad Digital Market (BDM) index, which will track 240 digital coins.

Galaxy Digital is a digital asset management company that Mike Novogratz founded in 2018 after leaving Goldman Sachs. Galaxy Digital shares have been traded on the Toronto Stock Exchange since July 6, 2020.

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