Bloomberg Terminal Expands Crypto Coverage to Top 50 Coins

Bloomberg has expanded its terminal service to include 50 crypto assets in order to provide better data to its clients in the institutional investment arena.

These include the popular cryptocurrencies Bitcoin, Ethereum, Binance Coin, XRP, Solana. Terminal clients will now be able to monitor intraday pricing for these crypto, index 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 increase of 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 incorporate digital assets into their workflows in a reliable and familiar way across terminals,” 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 customers define and develop their strategies in this space.”

Bloomberg selection criteria highlighted

Before including the top 50 crypto assets, Bloomberg will increase its selection, such as last year by including Cardano. The announcement also highlighted the process of which assets were selected by Bloomberg to provide the data.

Listing criteria include assessment of institutional custodial support, trading reach, market capitalization and business stability.

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

Composition includes Uniswap’s UNI (40%), AAVE (18%), Maker MKR (12.7%), Compound’s Comp (10)%, Year Finance YFI (5.4)%, Synthetix SNX (5)%, Sushi Swap Sushi ( 4.3) is included. %, ZXR (2.8)% of the 0x protocol, 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 the crypto markets.

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