Bloomberg and Galaxy Digital to expand crypto offerings with launch of new Defi index fund

Bloomberg agency today announced a partnership with Galaxy Digital to launch the Bloomberg Galaxy Defi index (DEFI). The index will comply with the largest decentralized financial protocols (Defi) based on market capitalization. 

According to Bloomberg’s PR article, the index can follow certain Defi protocols that benefit from the absence of central financial intermediaries such as brokers, exchanges or banks.  

The benchmark service will be owned and operated by Bloomberg Index Services Limited and will also be co-branded with Galaxy Digital. 

Galaxy Fund Management, Galaxy Digital’s equity platform, also offers a Galaxy Defi index fund that will track Defi’s performance. 

According to Alan Campbell, Bloomberg’s head of Product Management for multiple asset indices: 

“decentralized financing is growing as the next major investment issue in crypto. As liquidity and enterprise storage solutions continue to increase, Defi is becoming an increasingly attractive option for institutional investors and we will continue to work with Galaxy to expand our crypto indexing offering.& quot; 

On behalf of Galaxy, Steve Kurtz, head of Wealth Management, said:: 

“Galaxy continues to be a pioneer of institutions that want to be exposed to the innovations that are occurring in the crypto ecosystem. The blockchain-based infrastructure underlying Defi is developing rapidly, and clear real-time examples of how this new technology can disrupt financial services are emerging. This partnership with Bloomberg and our Defi index fund provides investors with data and tools that provide a calculated view of the future of financial services.& quot; 

The index will consist of Defi protocols with a minimum of 1% and a maximum of 40% of the index. When executed, the protocols in the directory consist of: 

UNI Uniswap 40.0% 

AAVE AAVE 18.0% 

MKR-manufacturer 12.7% 

Link 10.0% 

Your wish.Finance 5.4% 

Snx synthetics

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