Bloomberg has expanded its suite of crypto offering after teaming up with US-based asset servicing firm Galaxy Digital to develop an index based on decentralised finance (DeFi).
The Bloomberg Galaxy DeFi Index will be launched alongside the Galaxy DeFi Index Fund, a passively managed fund tracking the index.
The benchmark is designed to track the performance of the largest DeFi-related companies by market value.
"Decentralised 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.”
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