The CoinDesk 20 Index has generated
institutional demand with approximately $5
billion in perpetual futures volume since January 2024
NEW
YORK, May 22, 2024 /PRNewswire/ -- CoinDesk
Indices, the leading provider of digital asset indices since 2014,
today announced a collaboration with BitGo, the leading digital
asset custodian and wallet solutions provider, to offer custody of
the underlying assets that make up the CoinDesk 20 Index to global
institutions and advisors seeking access.
Launched in January 2024, the
CoinDesk 20 Index addresses the growing demand from institutional
investors for more diverse portfolio options beyond
bitcoin ETFs. It tracks the performance of top digital
assets, applying a capped market capitalization weighted
methodology to ensure diversification. Designed for scalability,
the CoinDesk 20 Index has already been adopted by leading market
making firms.
"We have seen demand for accessing a turnkey broad-based digital
asset solution," said Adam Sporn,
Head of Prime Brokerage and U.S. Institutional Sales, BitGo. "By
leveraging our institutional expertise as custodians, we're excited
to partner with CoinDesk Indices and provide our customer base with
access to the top digital assets within the CoinDesk 20 Index, as
investors seek to increase exposure to digital assets beyond
Bitcoin."
Following CoinDesk 20's launch earlier this year, Bullish—the
fastest-growing regulated digital asset exchange—launched a new
perpetual futures contract on the index, marking an industry first.
The CoinDesk 20 perp has attracted substantial institutional
interest, driving a trading volume of approximately $5 billion since launch.
"Recognizing institutional investors are increasingly interested
in accessing the broader market, the CoinDesk 20 was constructed to
support the largest and most traded financial products," said
Alan Campbell, President of CoinDesk
Indices. "We are thrilled to partner with a market leader like
BitGo to enable access to the CoinDesk 20, a seamless way to
measure, trade, invest, and stake in the growing digital asset
class."
For more information on BitGo visit www.bitgo.com.
To learn more about the CoinDesk 20 Index, please visit:
coindeskmarkets.com/cd20.
About CoinDesk Indices
Since 2014, CoinDesk Indices
has been at the forefront of the digital asset revolution,
empowering investors globally. A subsidiary of Bullish, our indices
form the foundation of the world's largest digital asset products.
Known for their precision and compliance, flagships such as the
CoinDesk Bitcoin Price Index (XBX) and the CoinDesk 20
Index set the industry standard for measuring, trading, and
investing in digital assets. With tens of billions of dollars in
benchmarked assets, CoinDesk Indices is a trusted partner. Discover
more at coindeskmarkets.com.
About BitGo
BitGo provides the most secure and
scalable wallet solutions for the digital asset economy, offering
regulated custody, staking and trading, and core infrastructure to
investors and builders alike.
Founded in 2013, BitGo pioneered the multi-signature wallet and is
the first digital asset company to focus exclusively on serving
institutional clients. In 2018, it launched BitGo Trust Company,
the first qualified custodian purpose-built for storing digital
assets and established BitGo New York Trust in 2021. In 2022, BitGo
launched institutional-grade staking, DeFi, NFT and
Web3 services. BitGo secures approximately 20% of all on-chain
Bitcoin transactions by value and supports more than
700 digital assets within its platform. BitGo provides the security
and operational backbone for more than 1500 institutional clients
in 50 countries, including many regulated entities and the world's
top cryptocurrency exchanges and platforms.
BitGo is backed by Goldman Sachs, Craft Ventures, DRW, Galaxy
Digital Ventures, Redpoint Ventures, and Valor Equity Partners. For
more information, please visit http://www.bitgo.com
CoinDesk Indices disclaimer: CoinDesk is a
portfolio company of the Bullish group. CoinDesk Indices, Inc.
("CDI") does not sponsor, endorse, sell, promote or manage any
investment offered by any third party that seeks to provide an
investment return based on the performance of any index. CDI is
neither an investment adviser nor a commodity trading advisor and
makes no representation regarding the advisability of making an
investment linked to any CDI index. CDI does not act as a
fiduciary. A decision to invest in any asset linked to a CDI index
should not be made in reliance on any of the statements set forth
in this document or elsewhere by CDI. All content contained or used
in any CDI index (the "Content") is owned by CDI and/or its
third-party data providers and licensors, unless stated otherwise
by CDI. CDI does not guarantee the accuracy, completeness,
timeliness, adequacy, validity or availability of any of the
Content. CDI is not responsible for any errors or omissions,
regardless of the cause, in the results obtained from the use of
any of the Content. CDI does not assume any obligation to update
the Content following publication in any form or format. © 2024
CoinDesk Indices, Inc. All rights reserved.
BitGo
Disclaimer: The information in this press release is not
an offer to sell or solicitation of an offer to buy an interest in
any investment or for the provision of any investment management or
advisory services. Custody services are offered through BitGo Trust
Company, a South Dakota chartered
trust company. BitGo is not registered with the SEC as an
investment advisor or custodian, and does not offer legal, tax,
investment, or other advice. Please consult your
legal/tax/investment professional for questions about your specific
circumstances. BitGo Trust Company, BitGo Inc., and BitGo Prime LLC
are separately operated, wholly-owned subsidiaries of BitGo
Holdings, Inc., a Delaware
corporation headquartered in Palo Alto,
CA.
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SOURCE CoinDesk Indices