Manhattan – based finance and media giant Bloomberg, along with Galaxy Digital, has long been trying to expand its crypto offerings worldwide. Finally, the companies today announced the launch of the Bloomberg Galaxy Defi index (ticker: DEFI) and the Galaxy Defi index fund.
Crypto Index to assess performance analysis by market capitalization of comprehensive decentralized financing protocols (Defi) that provide financial services without a centralized financial intermediary, such as a stock exchange, real estate broker, or bank account, according to the announcement.
Assets in the Defi index are selected based on corporate trading, retention preparation and pricing quality. Each asset must account for a maximum of 40% and a minimum of 1% of the total value of the benchmark. As of August 1, 2021, the index includes Uniswap, AAVE, Maker, Compound, Yearn, and sushi.
Defi and the Financial Services threat
Decentralized funding rose to $ 80 billion by 2021, a 385% increase for the year, according to a recent report. If the sector continues to grow at this pace, it could top $ 800 billion next year. After that, alan Campbell, Director of Product Management at Bloomberg Multi-Asset Index, noted:”Defi has become the next major investment issue in crypto.”
Campbell also noted that with liquidity and corporate storage solutions steadily increasing, institutional investors will eventually move into the Defi space. So Bloomberg and Galaxy Digital are trying to expand their crypto indexing offering and services around the world.
It is worth noting that Galaxy Digital is a Leading Provider of services for organizations that want to be aware of the innovations that are occurring in the field of crypto. Steve Kurtz, Galaxy Digital’s Asset Management Partner and President, is optimistic about his company’s collaboration with Bloomberg. According to him, ” this partnership will provide investors with accurate data and
