Financial and technical information platform Bloomberg has expanded its coverage of the crypto markets following the decision to include data from the top 50 crypto assets in the Bloomberg terminal.
Alex Wenham, Product Manager for Cryptocurrencies at Bloomberg, suggested that as interest in digital assets from the “global institutional investor” community continues to grow, they will need a way to “seamlessly incorporate digital assets into their workflow.”
As of 2018, Bloomberg’s terminal already had 10 cryptocurrencies, including BTC, ETH, and XRP. The expansion adds an additional 40 coins to the mix like SOL, allowing financial professionals and institutions to access and trade real-time financial market data.
This is the biggest expansion of its crypto data since Bloomberg Terminal started tracking BTC in 2013.
Bloomberg’s market-leading coverage of cryptocurrency data on Bloomberg Terminal has been expanded to include the top 50 crypto assets, including Bitcoin, Ethereum, Binance Coin, XRP, Solana, and more. https://t.co/NknHawFOez
— Bloomberg Terminal (@TheTerminal) 9 June 2022
Su Zhu, co-founder of the Three Arrows Capital Crypto Investment Fund, is pleased with the new additions to the terminal. he commented Tweet On Friday that it was “also good that they link to the white paper.”
coin descriptions are a bit fun to read that @ crypto Bloomberg has been added to the terminal
It’s also good that they link to the white paper pic.twitter.com/U7AN3tI7CK
— zhu su (@zhusu) August 6, 2019
The Bloomberg terminal is considered an important tool for professional and institutional investors as it provides analysis, insights on compliance and risk, and allows users to place trades. Bloomberg said it examines assets on the terminal through a data-driven approach and “ensures that the approach evolves with the crypto markets.”
Bloomberg Terminal User CRYP
The addition of so many crypto assets to the Bloomberg terminal indicates greater maturity in the crypto markets. Institutions are taking a very close look at their opportunities within the space to develop the platform and make a profit.
related: Despite bearish trend, hedge funds are dipping their toes in crypto: PwC
Their evidence of interest comes from the listing of a bitcoin-thematic exchange-traded fund (ETF) by the Italian stock exchange Borsa Italiana on June 7.
