CoinMarketCap to Launch Its Cryptocurrency Indexes for 200 Coins on Bloomberg, NASDAQ Today

On Wednesday, March 20, the major crypto tracking website Coinmarketcap.com (CMC) in a blog post announced its intention to launch two crypto benchmark indexes. Among the platforms where it will start today are NASDAQ GIDS, Thomson Reuters, Bloomberg Terminals and a few others.

The indexes are meant to track the top 200 virtual coins by their market cap. One index will include Bitcoin. The other one will not work with BTC.

@CoinMarketCap launches 2 #cryptocurrency #indices today on NASDAQ GIDS, Bloomberg, TR Refinitiv and Börse Stuttgart. It covers Top 200 crypto and is the most comprehensive #index to date. We're excited to bring crypto data to the wider financial market!https://t.co/QHXzg9KLox

— CoinMarketCap (@CoinMarketCap) March 20, 2019

What the indices are for

CMC writes that the crypto benchmark indexes will allow investors to efficiently follow the overall performance of the digital currency market. The CMC Crypto 200 Index, which covers Bitcoin, will deal with the data of over 90 percent of the world’s crypto market.

The other index – CMC Crypto 200 ex BTC Index – does not include BTC. Its goal is to monitor the way the market performs without Bitcoin’s influence. At press time, Bitcoin dominates around half of the overall market cap.

CMC CEO Brandon Chez is happy about launching the new market indexes, saying that they should make global crypto market data much more accessible and will let cryptocurrencies go deeper into financial markets.

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Solactive AG to manage the CMC indexes

Solactive AG, a Germany-based index provider, will be in charge of calculating and managing the CMC crypto indexes – CMC200 Index and CMC200EX Index.

Solactive currently administers more than 3,000 indices and is well-reputed in this area. It follows all necessary rules to do with IOSCO Principles for Financial Benchmarks.

In case some clients decide to get a license for these indexes for their private use, Solactive will offer them tailored solutions for these indices.

After the launch on the aforementioned platforms, the indices will be also displayed on the CMC website too.