CoinMarketCap revealed that it will launch two cryptocurrency benchmark indices on Bloomberg Terminal, Nasdaq Global Index Data Service (GIDS), Germany’s Börse Stuttgart, and Thomson Reuters Eikon (Refinitiv). The news was announced through the crypto data company’s blog post, published Wednesday.
The two indices are administered and calculated by Solactive, a German index provider, according to the post.
The top 200 cryptocurrencies by market capitalization will be covered by the indices, one with bitcoin (BTC) and one without it, the announcement said. The one with bitcoin will be called CMC Crypto 200 Index (CMC200), while the one without bitcoin will be dubbed CMC Crypto 200 ex BTC Index (CMC200EX). The company said that both indexes will be rebalanced on each calendar quarter’s last day.
CMC200EX has been purportedly designed “to track the performance of the market without the influence of Bitcoin,” since the biggest cryptocurrency comprises half of the total market capitalization of the entire crypto market.
The post stated that Solactive is also the firm behind the CBOE Bitcoin Futures index, which was rolled out in December 2017, and administers more than three thousand custom indices.
Fabian Colin, head of sales of Solactive, said that access to CoinMarketCap’s data allows them to create custom indices for clients. He also mentioned that “conversations have already started” about that.
Nasdaq recently unveiled two new indices monitoring the “spot or reference rate for the price” of bitcoin and ethereum. The indices were developed by Brave New Coin, a crypto asset market data firm.
In November 2018, MV Index Solutions, an investment management company and subsidiary of VanEck, unveiled its own bitcoin index based on three primary over-the-counter (OTC) desks.
CBOE mentioned this week that it will not put additional bitcoin futures contract this month, saying that it “is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading.”